Based in Consett, County Durham, SPS has operated for more than 30 years as a developer and provider of print and patented technology to aid security for revenue recovery and brand protection.

Its sale to Authentix, which is headquartered in Addison, Texas, US, was completed on 2 April and sees the full business and its staff transfer to Authentix ownership. The deal was completed through Authentix’s UK arm, which is based in York, following conversations that began in January.

Authentix chief executive Kevin McKenna said: “SPS is a very high-quality security printer specialising in many areas that align to Authentix’s vertical business units. It has a strong portfolio of relevant security printing patents as well as decades of proprietary know-how and capabilities with a well-tenured and highly trained staff.

“It has an experienced management team, great utilisation of equipment lines and solid partnerships worldwide.

“In addition to these core business characteristics, SPS is positioned to supply innovative solutions to our collective organisation at very competitive costs enabling us to better serve our growing portfolio of brand owners and government clients.”

Under the transaction, SPS will retain its own branding and operate as an independent company, though it will enjoy an overlap of product and service offerings with those in Authentix’s own portfolio.

Directors David Clough, Claire Duggins, Paul Craig, Graham McGuire and Stephen Wilson will stay with the company while James Crowther and Michael Crowther will serve on an interim basis before exiting the company.

Accounts made up to 30 April 2018 posted Security Print Solutions’ turnover at £10.7m with circa 78 members of staff. Its product portfolio includes high security tax stamps, security labels and patented and multi-layered security technologies.

With offices in North America, Europe, the Middle East and Africa, Authentix serves governments, central banks and commercial entities in its international client base.