Our award-winning Business Recovery and Insolvency division has secured the successful sale of the assets of Essex based printing specialists, Pressroom Plus Limited.
Dean Nelson and Nick Lee of Smith Cooper were appointed Joint Administrators of Pressroom Plus Limited on 15th February 2019. Following appointment, trading continued, whilst a suitable purchaser was sought for the business through an accelerated Merger & Acquisition process.
Unfortunately, a buyer could not be found for the business as a going concern and as such, the entirety of the businesses stock and assets has now been sold to international holding group, Huber Group, comprising of 40 companies, spread across the Globe. Through more than 130 branch offices, sales offices, distributing warehouses and representatives worldwide, the group delivers high quality printing ink solutions, often tailor made, to clients with diverse and demanding needs.
The sale completed on Tuesday 5th March for an undisclosed amount.
Dean Nelson, Head of Business Recovery and Insolvency comments “I am very pleased with the outcome of this case. Unfortunately, a purchaser for the business could not be found, but we did have several expressions of interest for the stock and assets, and at the conclusion of the process, Huber Group were identified as the preferred bidder. After conducting rigorous negotiations, the sale was concluded.”
Dean Nelson and Nicholas Lee are licensed in the United Kingdom to act as Insolvency Practitioners by the Institute of Chartered Accountants in England and Wales.