London-based SFP was established in 1988 and works for major banks, law firms and blue chip clients.
Its services include design, typesetting, financial print and virtual data rooms.
The firm outsourced print production when it sold its print manufacturing wing to DG3 11 years ago.
Printweek understands that a downturn in London IPO work hit the firm’s performance, and as a result SFP's directors called in Moorfields Advisory to look at options for restructuring and a sale of the business.
Moorfields stated: “Whilst there was initial interest in a solvent sale, a satisfactory solution could not be found and a sale of the business was completed via a pre-packaged sale out of administration”, which took place shortly after Andrew Pear and Milan Vuceljic were appointed joint administrators on 21 April.
Pear said the deal would mean continuity for staff and clients.
“The sale of the business ensures minimal disruption to client orders with the buyer best placed to continue to service the clients going forward”. Sterling Financial Print has a long-standing reputation in the city and will benefit from the capabilities of The Color Company to provide an enhanced service offering to clients,” he said.
The Color Company managing director Elgin Loane told Printweek that the deal involved the SFP assets and goodwill, and about 20 staff had TUPE’d over. The Sterling Financial Print name will be retained.
“It sits nicely in our existing platform. They have a good client base and the customer service and typesetting are top notch, and it runs 24 hours. They have a good name here in the City,” Loane explained.
“Sterling Financial Print also has a sophisticated design and copywriting offering and we can push that out to our other clients. They know how to communicate their value proposition and I think that’s important in print.”
Loane said that Sterling’s ISO accreditations including 9001, 14001 and 27001 would be of benefit to the wider group, which also includes Royal Warrant holder The Wren Press. The buy takes the total number of staff up to around 75.
In addition to the staff who transferred, Sterling also has access to a 10-strong team working out of Chennai, also available 24 hours.
Loane said that the firm’s former directors were working as “consultants for the transition of the goodwill through their knowledge and client network”.
He said that overall sales at the group prior to the Sterling buy was “probably back up to around £8m after Covid”, and he expected the acquired business would help to boost future growth.
The Color Company has seven branches in London and one in the States, at Providence Rhode Island. It offers the option of a 24/7 service at its Mayfair branch.
Editor’s note: Sterling Financial Print is not connected to Kettering-headquartered commercial printer Sterling Press Ltd.
