Lindsay Yates Group takes over Halkeas Printing clients

Paul Richardson, managing director of Artarmon-based LYG, said he bought Halkeas’ debtors and took on certain key staff around the end of July, including Patricia Halkeas, daughter of founder Stan Halkeas.

The buyout did not include any of Halkeas’ equipment, which is expected to be sold off in the near future.    

“It has been a positive move and so far the sales expectations have been there,” Richardson (pictured) told ProPrint.

He added that “the mix of work suits us. They do small jobbing, packaging work and general commercial.”

Richardson said LYG had been on the lookout for acquisitions and Halkeas was a “solid company”.

“You look at some companies’ books – some people have some colourful accounting going on. This was a fairly low-risk acquisition.”

Halkeas had been subject to a number of industry rumours over 2010, and Patricia Halkeas confirmed the company had been looking at M&A options for quite a while.

“I think we made the right choice. [LYG] are pretty well known in the market.”

She said the Halkeas name had not been consigned to history. “We are still here and it’s very important, especially for our clients. They are very excited.”

Stan Halkeas founded the company 50 years ago in the Sydney suburb of Taylor Square before moving to Chippendale.

At its height around five years ago, Halkeas Printing employed more than 50 staff.

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