The presses have already started rolling again at a printing works which fell into administration late last year after more than 100 years in business.
Calderprint of Manchester Road, Burnley paid £932,000 for the building and equiptment at Hudson & Pearson in Dunnockshaw. The site has been renamed as part of Calderprint and is expected to have a workforce of 20.
The family-owned firm was founded in 1906 by Solomon Hudson, who was working as a letterpress printer for the Burnley Express and print buyer Thomas Pearson. It went into administration in November, blaming difficult trading conditions.
The asset-buying deal was Lancashire Business Growth Fund grant through the East Lancashire Chamber of Commerce, with Nat West providing the remaining funds.
Calderprint owner and managing director Peter Birbeck anticipates the acqusition will boost turnover from £7.5m. to £10m. within the next two years. The company operates 16 presses at sites across Lancashire and aims to increase staff levels to more than 100.
The take over deal was negotiated with adminstrator BDO by chartered accountants Pierce’s director Mark Maden-Wilkinson. The Blackburn firms finance director, David Sharpe, dealt with the grant application and business planning.