Lincs duo snapped up by Arena
Two Lincolnshire businesses have been bought by Arena Group, a Wakefield-based print and document business. Fovia (Innovation) and Copytrend will continue to operate from their respective Grantham and Bourne bases once the undisclosed deal completes.
Arena said the deal, which extends its geographical coverage further south, was part of its strategy to double the size of the group in five years.
Fovia and Copytrend – part of the Fovia Group - will continue to trade under their own names and operate from Grantham and Bourne under the leadership of the founder of the business, Marcus Wallis.
In the last six months Arena said it had been on a recruitment drive, taking on 11 additional staff. The acquisition takes the group to a total of 146 staff across seven offices which cover Yorkshire, Lancashire and the Midlands.
Arena Group managing director Adrian Fitzpatrick said: "Fovia fitted our acquisition strategy perfectly in the core areas of geography, product portfolio and reputation and will provide a springboard for our expansion to the Midlands and later to the South."
Advisers to the deal were accountancy firm Garbutt & Elliott and the Leeds office of Lee & Priestley. Funding for the acquisition was provided by Yorkshire Bank.
