Precision Printing has taken a controlling stake in First 2 Print for an undisclosed cash sum, and become a partner in YourWalls.co.uk, a bespoke printed wallcoverings operation that that will officially launch in January.
Sunderland-based First 2 Print, established in 2009 and operating sheet-fed kit as well as large-format Durst and HP machines, has a staff of 20 and is forecasting a £1.7m turnover for 2014. Sales are said to have climbed 41% in the past year. It will now trade under Precision’s recently refreshed branding.
The executive team at First 2 Print remain in place, led by managing director Martyn Young and operations director Donna Young, who are to deliver an aggressive business growth plan from the Sunderland site.
Within the next six months 100% expansion of the site to 1,300m2 is planned, plus the launch of YourWalls.com and the re-launch of First 2 Print’s existing WhereTheTradeBuys.com online print operation. In that same period investment will be made in a HP Indigo digital 7500 and in wide-format equipment for the new YourWalls business, including UV flatbed and 3.2m roll-to-roll machines. Underpinning the new business will be HP’s WallArt solution.
“The dynamic team at First 2 Print have been very successful and are operating in two key strategic markets we have been looking to move into for some time - wide-format printing and online (upload and print) as well as the new disruptive wall art offering,” said Precision Printing CEO Gary Peeling.
“Once you are sure that you will be stronger and grow quicker together completing a deal is simple. First 2 Print’s expertise will allow us to be able to provide a market leading wide-format and display solution to our existing clients from day one with no learning curve.
He added: “Our automated print-on-demand capability will be used to support the growth of WhereTheTradeBuys.com. Development of this business [which started in 2010] will allow better utilisation of our facilities all year round without any conflict with our existing integrated B2B2C customers.
Young added: “The online print market in the UK still holds significant opportunity and we believe we have found a special approach at WhereTheTradeBuys.com and through YourWalls.co.uk.
Privately owned, London-based Precision Printing was established in 1966 and has a staff of 130. Sales for 2014 are forecast at £15.25m, and annual growth of 13%.
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