The deal was completed on Friday (1 October). Initially the Mayfield acquisition will be under the Ivor Solution name, the acquisition arm of Holloway, London-based Print Evolved.
Spencer Slee, managing director of Print Evolved, said: “The extended period of Covid has significantly impacted the print industry, prompting an in-depth review of business strategy to maximise future potential.
“The acquisition of Mayfield is part of our strategy, giving benefits for both businesses. For Print Evolved, this gives us additional large-format capacity and high-quality design agency services. Together we can offer all our customers an even more comprehensive service package, all controlled in-house.”
Mayfield managing director Cameron Thomson added: “We are delighted to be joining the Print Evolved group in their plans for the future growth of the business.
“The addition of their specialist web-to-print solutions gives us so much more to offer customers and the introduction of their automated workflow systems will help us increase capacity and improve production efficiency.
“It also allows us to offer an economical same-day service in the London area. It’s good for our customers, and for us too.”
Mayfield offers litho, digital, wide-format, and grand-format printing capabilities as well as a complete design service. It employs 80 staff, who have all been kept on as part of the deal and will remain based at their current premises.
The business will continue to trade under its existing brands, which include Mayfield, Gpex, 9impressions, and Murrays the Printers.
Print Evolved, meanwhile, has 45 staff and trades as Print Evolved, Cognitu, Mainstream Print, and Cardsmadeasy. The expected combined turnover of the now 125-staff group is over £14m.
The group’s growth strategy includes plans for further acquisitions, which would also become part of the Ivor Solution portfolio while the future group structure is finalised.
Paul Holohan, CEO of print M&A specialist Richmond Capital Partners, which facilitated this deal, said: “The two companies have substantial synergy and we are delighted to have been instrumental in bringing them together.
“We do have a long and successful track record with Print Evolved and our knowledge of their business enabled us to introduce this potential acquisition to them. I’m sure this will be a fruitful liaison and that the group will go from strength to strength, adding further acquisitions to extend their offer to clients.”
In late 2017 Print Evolved, which was publicly known as Ivor Solution until it was rebranded in 2016, installed a Hans Gronhi litho press.
