Wyndeham Press has paid 15.6m for Print Direct, a 70-staff 11.4m-turnover direct mail printer based in Stockport.
Wyndeham chief executive Bryan Bedson said Print Direct was "positioned at the leading edge of its sector". The deal comes weeks after Bedson hinted at a direct mail buy (PrintWeek, 9 June).
Print Direct joins Aquaprint in Wyndehams commercial division. The firm made a 1.9m pre-tax profit last year, and specialises in direct mail for blue-chip catalogue producers.
Managing director Gary Lasham, production director Alan Hodgson and finance director Chris Haresnape remain with Print Direct after signing two-year service contracts.
Lasham bought the firm with backing from 3i on New Years Eve 1997. "We had a superb couple of years with 3i," he said.
Print Direct has five narrow-width web presses - three from Goebel and two Taiyos.
Wyndeham chairman John Jackson told the groups AGM that performance in the first quarter of this financial year was ahead of last year, and that revenues and margins were in line with expectations.
Story by Gordon Carson