Magnadata buy saves 111 jobs
More than 100 jobs have been saved at a direct mail and printing company after Lincolnshire-based Magnadata Group bought it out of administration. Character DPM Group, based in Merseyside, was acquired for an undisclosed sum.
Boston-based Magnadata completed a deal to buy the company’s two print outlets in Warrington and Bootle, plus its direct mail and fulfilment operation in Aintree. Magnadata subsidiary Citizen ID will operate the sites.
The purchase safeguards approximately 111 jobs across the three locations.
“We are delighted to have concluded this sale of the business and its assets - not least because we have saved over one hundred jobs across the three Character sites,” said Paul Flint, associate partner at KPMG.
Flint and Brian Green from KPMG were appointed joint administrators of Character DPM and subsidiary Character Mailing Services on 24 February 2011.
They immediately made 44 people redundant – 20 from the Warrington operation of Character DPM and 24 from the Character Mailing business.
Flint added: “The KPMG team has traded the business over the last six weeks in order to give the best opportunity for the business to move forward.
“At times, given the prevailing economic climate, this has been problematic. However, the resulting sale is an excellent outcome and I would like to thank Character's employees and suppliers for all their help and support over the last six weeks, and wish Magnadata Group every success in the future.”
Character DPM Group had itself bought a string of businesses from the hands of administrators in recent months before it entered administration.
In October 2010, it bought three commercial printing operations in Merseyside and Cheshire – Tech Litho, Tudor Print & Design and APG Visual Colour – from administration.
A deal was also struck to buy Stockport-based Paramount Print Group from administrators at accountancy firm Grant Thornton.
Speaking at the time, Character DPM director John Leutton said the deals were set to increase turnover to £7.5m for the year to 31 January 2011, up from £2.5m in 2010. He also predicted that profits would grow from £50,000 to £500,000.
