Its three main directors: Phil Beswick, Roy Keeling and Roger Stanyon, sold the business.

Keeling and Stanyon will be consultants for the next few months, "to ensure a smooth transition". Phil Beswick has been retired for around three years.

For Griffiths it is a swift return to the paper merchanting industry, having left Premier at the beginning of this year following "a difference of opinion". (PrintWeek, 5 February).

Griffiths' partner in the deal is Courtney Candler, a former colleague and financial director of Fyne Papers and latterly managing director of Arjo UK Merchants, who returns to the trade after a gap of four years.

Former Premier Paper commercial director Rob Viner, who recently left the rival merchant group, will also join them at the 37m turnover business.

"In terms of intentions, Beswick is a very fine paper merchant and we are planning no major changes," said Griffiths.

Griffiths said he planned to develop it "carefully and sensibly". "We are not going to do a York & Ford," he said.

But Griffiths said other acquisitions cannot and will not be ruled out. He said the deal was very amicable, and the existing directors were happy they were not selling to another merchant.

"We are pleased that the company will remain an independent paper merchant rather than becoming part of a larger group," said Phil Beswick.

"I'd like to think we are safeguarding the jobs of our employees," he said, and wished Griffiths and Candler good luck and success with the business.

The new management team is working on a scheme to share the wealth with key employees of Beswick, but Griffiths said this would take very careful planning in its implementation.

Beswick started selling paper in 1948. It employs around 150 staff and operates branches in Birmingham, Northampton, Cheltenham, Crewe, Leicester, Hertford and Newport.

Story by Andy Scott