The move will more than double STI’s floorspace from the 4,000sqm it currently occupies in Regents Park to over 10,000sqm at the Padstow facility, which was purpose built last year for Pettaras Press.
The company will retain the STI Lilyfield name.
STI Lilyfield managing director Ian Kingham told ProPrint today that the acquisition and relocation would let it fast track its point-of-sale strategy.
“We were going to move into a site and build [the POS business] from scratch so this allows us to move into a facility that already has most of the equipment we need to be successful,” he said.
Kingham added: “There will be a need for additional staff over the next six to 12 months but we are also looking to maximise our efficiencies.” He added that staffing would predominantly focus on the POS side.
He confirmed that STI Lilyfield has been part of the bidding process for Pettaras, which called in administrators Jirsch Sutherland on 19 March and then appointed receivers PPB a few days later.
The other bidder was Print National, which looked close to acquiring Pettaras as a going concern before the buyout fell through at the end of May.
The sale to STI Lilyfield completed on 21 June and comprises most of the Pettaras equipment list, including a 10-colour Komori Lithrone bought by Pettaras Press last year, as well as one HP Indigo 5000.
In a letter sent out to customers today, Kingham and Dr Tom Giessler, chief operating officer of STI Lilyfield’s German parent, STI Group, wrote: “We will be moving our entire operation to the Padstow site and this is expected to be completed within the next three to six months.
“This move includes all our existing equipment and employees. The move will be strategically managed, hence there will be no impact on the delivery of goods and services to you,” the letter continued.
Kingham told ProPrint that while the deal did not include Pettaras’ customer lists, ” we’re always here to service any of the clients who were with Pettaras. Our offering would suit that company’s former client base. We are always on the lookout for new business.”
PPB’s Peter Block, who was managing the receivership, told ProPrint: “The deal that we entered into was the best result for the business at that point in time.”
Meanwhile, Pettaras Press’ former owner Steve Pettaras is believed to have taken a position at SOS Print and Media.
The company, which is headquartered in Alexandria, operates a mix of offset and digital equipment across sites in Sydney and Brisbane and has more than 170 employees.
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