Peter Arnel, who bought the company with former joint managing director Steven Greener in 2001, has now sold the 58-staff litho and digital printer for an undisclosed sum to existing director Alan Whitelaw and consultant Mike Godfrey.
He blamed his departure on a shift away from the need for old-style printers to run printing companies.
"The reason why I sold was that I just ran out of steam," he said. "The industry now needs a type of new manager, one who is much more able to live in this world of cost control, standards and corporate responsibility. Gone are the days where owners needed to be master printers."
Berkshire-based WHP Newbury did not enter any form of administration and was sold 'as is' to the MBO team.
The MBO was arranged by management advisory group Precision One, which handled the corporate finance behind the deal and secured the necessary financial backing.
Don Woodward, a partner at the firm, said the new management team had met with key suppliers and customers who had given their backing to the move.
"No machinery has been sold and no redundancies have occurred. The company now has a serious number of high-level, hard-hitting experienced leaders at the top to take the business forward in what are exciting times at WHP."
He added: "The company has a good order book, some spare capacity and willing customers that are regularly losing alternative options to place work. As the market contracts, we look forward to helping them."
WHP Newbury, which produces short-run, high-quality promotional materials, largely for the property brochure market, was originally formed 47 years ago, before being bought by Arnel and Greener in 2001.
Last year, the £5.5m-turnover company rebranded from its White Horse Press name.
At the same time, it installed a refurbished six-colour HP Indigo 5000 and a four-colour B1 Heidelberg Speedmaster SM 102 press as part of a £750,000 investment and move into digital print. Steven Greener also left the business to live in the US.
Following his departure from WHP Newbury, Arnel said that he hoped to still be involved in print, although not at an operational level.
WHP Newbury sold to management team as MD bows out
The managing director of WHP Newbury has sold the business in an MBO deal, claiming that the days of printco owners being "master printers" were over.
