Watford-based The Print Factory has acquired the firms main building in the Round Spinney industrial park and its two Heidelberg webs (an 8pp and a 16pp).

As PrintWeek went to press it was also negotiating the purchase of its eight- and 10-unit Speedmaster 102s from Close Asset Finance. The firms B2 five-colour Speedmaster has been bought by Eclipse Colour Print in Kettering.

Former Spectrum Flair Group managing director Gary Kiernan and former group sales director Warren Brew have been appointed as joint managing directors of the firm, but they are no longer shareholders. They own it 100%, said Kiernan.

The firm will retain the Spectrum Flair name but its corporate identity will be revamped, he added.

Kiernan said he and Brew had been persuaded to return to the firm, which went into administrative receivership with Andersen at the end of January, by The Print Factorys managing director Steve Brundle.

Steve was the instigator. It was him and the customers who talked us into it. We decided it was a good opportunity, he said.

But the new Spectrum Flair will be much smaller. It is in the process of recruiting and will employ around 40 staff, compared with 220. Sales will be around 6m-8m as opposed to 25m.

All its operations will be under one roof. Its bindery, currently housed in a separate unit, will be relocated to the main building.

Kiernan said The Print Factory, which operates B1 sheetfed presses, had been looking for additional capacity and an opportunity to get into the web market.

Former Spectrum Flair chairman Terry Monk and finance director Roger Scouse are no longer involved with the firm.

Story by Lauretta Roberts