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York Mailing buys The Lettershop Group

York Mailing, which secured a £10m investment from the Business Growth Fund (BGF) last month, has bought fellow printing business The Lettershop Group (TLG). Founded in 1886 and based in Leeds, TLG has a turnover of £20m and employs 200 staff.

TLG has historically focused on direct mailing for the financial services industry but has since expanded into the retail sector. Its customers include Marks & Spencer, Sky and Tesco.

York Mailing said the enlarged business would have a turnover of almost £100m and it will employ 500 staff across its three sites. The group's other two businesses – York Mailing Ltd and Pindar Scarborough Ltd – specialise in the production of flyers, media inserts and catalogues.

Chris Ingram, chief executive of York Mailing, said: "We have long admired TLG as a business given its outstanding client base and hybrid digital and web offset printing capabilities.

"It is a natural fit within the York Mailing business and we look forward to being able to offer customers an enhanced range of promotional printing services.

"This type of deal was a significant undertaking for us a management team and the financial backing and operational support provided by BGF has been invaluable."

A team from Schofield Sweeney acted on behalf of David McGolpin and Simon Cooper, who will remain in the TLG business as joint managing directors. Previous owner John Hornby said: "I am delighted that the York Mailing Group of companies has acquired TLG and along with Simon and David, I think this is the perfect home for The Lettershop business.

"I firmly believe that being part of the UK’s most dynamic print provider offers a real opportunity for TLG to extend their leading technology to a broader customer base."

Richard Taylor from the BGF added: "This is a fantastic example of BGF’s capital being put to good use; an ambitious management team leading an expanding business but with a desire to grow that bit further and offer customers that bit more."

York Mailing expanded two years ago with the purchase of the web offset printing and bindery division of Pindar out of administration. For the year to 31 May 2013, it said group turnover hit £75m and profits were £7.6m.

The Schofield Sweeney team was led by Chris Schofield, with support from Karen Surridge, Adrian Ballam and John Feaster

About the Author

Chris Schofield

Chairman

Chris is the Chairman of Schofield Sweeney. He advises on corporate matters and regularly advises…

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