BPA Print Group has been acquired by Melbourne-based NewTone, a commercial printer established in 1957.
The deal was secured by receiver-manager Deloitte, which was appointed on 20 March.
The sale includes about 18-20 staff, the Burwood premises, the client list and the main machinery, including the near-new 10-colour Heidelberg Speedmaster, but not the debt, said BPA operations manager John Stroud.
Stroud told ProPrint that the sale was 100% independent. "There will be no previous directors or shareholders involved in the business going forward."
The acquisition does not include the digital operations, which comprised a Xerox iGen4 held under a separate company run by BPA's former directors.
Stroud told ProPrint that it was a positive outcome for 109-year-old BPA.
"Support from most suppliers and customers during recent weeks has been fantastic, it is humbling to see the support from suppliers and customers.
"We have had a fairly strong amount of work and hopefully with the security of the sale we can move forward and grow really quickly."
[Feature: Minimise your exposure to bad debts]
The man behind the BPA deal is Mark Shergill. Shergill also has a Sydney business, Print Warehouse, which has just acquired failed Gold Coast commercial printer Dynamic Print Communications.
Dynamic collapsed on 12 April. Liquidator Roland Robson from Robson Cotter Insolvency Group told ProPrint that unsecured creditors were likely to be owed more than $500,000 and that debts to secured creditors were still being calculated.
Robson said it was too early to comment about why Dynamic collapsed or what sort of return creditors might receive. The first creditors meeting will be held on 30 April.
Dynamic director Phil Godfrey could not be reached for comment.
Shergill told ProPrint that Print Warehouse acquired most of Dynamic's unencumbered plant and equipment and its client list, but not its debt.
"Basically, we've picked up the whole business, not just the assets. It's not a phoenix. It's a totally different management structure [to Dynamic]. We'll run part of it from Sydney," he said.
The deal included a five-colour Komori, diecutting cylinder, guillotine, and folding and finishing gear, said Shergill.
Print Warehouse will run its Gold Coast acquisition as a separate entity called Printing Enterprises, he said. Print Warehouse derives about 15-20% of its turnover from Queensland and will use Printing Enterprises as its Queensland manufacturing base, he said.
He added that employment offers had been made to about 12-14 Dynamic employees – about 60% of its staff.
[Related: More M&A news]
BPA Print Group is in no way connected to Sydney print management company BPA (Business Print Australia).
Comment below to have your say on this story.
If you have a news story or tip-off, get in touch at editorial@sprinter.com.au.
Sign up to the Sprinter newsletter