A consortium including Moody and Abbey Aboughattas, Brett Chalmers, Steve Kernahan and Craig Bradley has purchased the 50 per cent of Docklands Ability Group they did not own from the Chinese investors, and renamed it Waratah Group.
Brett Chalmers, chief operating officer, Waratah Group says, “The owners have been partners for 20-odd years, and will be splitting roles within the group. The purchase is a positive move, and gives stability in the business. We are looking forward to the next 12 months, and feeling confident.”
Moody Aboughattas will be the managing director, Abbey Aboughattas as the CEO, with Kernahan and Bradley as account managers.
Docklands Ability Group was created in Melbourne two years ago through a mega merger between Docklands Press, owned by the Aboughattas brothers, Michael Wu’s Ability Press and the Todisco family owned Mercedes Waratah, which also included M&M Binders.
The Todiscos bowed out at the time of the merger, with Wu being asked to leave a year later. The Chinese investors which had originally backed Wu have now sold their shares. They had no day to day involvement with the business.
Chalmers confirmed there are no plans to shift or let go of staff following the deal.
The group will be split between offset division Waratah Group and Waratah Digital. Waratah Group renamed On Demand under the Waratah Digital label when it came into the fold last year. Some of the Waratah owners are also shareholders in Data Direct Australia, a new print and mail business being run by Nicolas Ficinus.
Along with the name change, Waratah Group says it has adopted a new logo, visual identity and a website.
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