Mum’s the word while Helmsman is performing due diligence, but Chippendale co-owner Phillip Hanks did confirm to Australian Printer that Helmsman was in the process of buying the company.

The reason for the sale is as yet unknown, but Helmsman’s website says the fund specialises in buying historically profitable companies that are suffering a liquidity crisis, in fact its $45m fund is specifically aimed at turning around under-performing businesses. Helmsman is a new fund owned jointly by financial heavyweights Macquarie Bank and KPMG

Located in Concord in Sydney’s inner west Chippendale at one time laid claim to be the most advanced print house in Australia, with a pair of networked MAN Roland 12-colour long perfectors running side by side around the clock.

The forward looking company already works with JDF, and its environment team has been busy working on obtaining the FSC Chain of Custody accreditation, which it is confident of gaining soon.

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