Thu, 05 Sep 2013 | MERGER
Leeds-based printing firm Communisis has purchased Editions Publishing for £7.1 million.
The deal includes Edition Publishing’s net assets at completion, expected to be £200k, and acquired cash of around £1.2m.
Communisis, which offers personalised customer communication services, has an acquisition strategy to take on businesses with complementary service offerings to boost its position in the printing field. Established for over a century, Communisis recently announced that it has agreed a contract with Lloyds Banking Group to produce all of its transactional customer communications in Britain.
Situated in Edinburgh, Edition Publishing has delivered a significant output of 2,000 projects for over 33 financial brands over 14 years, and trades as Editions Financial. It generated sales of £2.6 million, with pre-tax profits of £500k for the year to 31 August 2012. Further organic growth is anticipated for 2014.
Commenting on the deal, Andy Blundell, Communisis’ chief executive, said: “As the UK’s leading content marketing agency within the financial services sector, Editions Financial is a clear strategic fit with the group’s aspiration to broaden and deepen its service offering.”
Founder and chairman of EF, Caspian Woods, added: “Joining Communisis is an excellent opportunity for us to accelerate the growth of our business.”
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