Lexington advises Pensord Press upon acquisition of Cambrian Printers
Jun 01, 2017
Pensord has taken the reins at Cambrian Printers and has committed to retaining the 50-strong workforce. The Cambrian name will remain for the time being.
The £7m-turnover business specialises in litho printing of catalogues and brochures as well as commercial and digital work. Following the deal, owners Robert and Tim Read will retire from an industry their family has worked in for 90 years.
Pensord prints more than 400 regular publications and employs about 150 people in Pontllanfraith near Blackwood. It has an annual turnover of about £12m.
Darren Coxon, Pensord managing director, said: "Cambrian Printers is a well-respected name in the industry with a portfolio of long standing customers, so when the opportunity to purchase arose we jumped at it.
"In challenging times with a number of big printing names going to the wall, this acquisition gives us the chance to expand our capacity and takes us into new commercial territories, adding to our digital work, and broadening our footprint within Wales."
Outgoing Cambrian Printers owner Robert Read added: "Cambrian has been a significant employer in west Wales since 1860 when we printed newspapers, and 1927 when the Read family took the helm, so when we decided to sell, it was important we found a buyer who had a real understanding of what we do, and an empathy with our staff."