Leading law firm Blake Morgan has completed the sale of a family business established in 1860 to specialist magazine printing company Pensord.
Aberystwyth based Cambrian Printers began life in 1860 as a newspaper print company. The current family owners, Robert and Tim Read will be retiring from an industry their family has worked in since their family took over the business in 1927.
Pensord has a turnover of £12m, prints over 400 regular publication and employs some 150 people in Pontllanfraith in the Gwent Valleys. They will maintain the 50 plus Cambrian workforce.
The corporate team at Blake Morgan acted for long-standing clients Robert and Tim Read, advising them on all legal aspects of the sale.
Robert Cherry, corporate partner at Blake Morgan said: “Cambrian benefits from a great reputation for quality over four generations as a business well established in a number of sectors including printing high quality catalogues for well-known national fine art auction houses. This acquisition by Pensord will enable the rapidly growing business to sustain and build on their litho printing of catalogues and brochures and on their commercial and digital work while Robert and Tim take a much-needed rest. We have advised Robert and Tim ever since the sale of The Cambrian News newspaper to Tindle Independent Newspapers in 1998. It has been a great pleasure to act on their behalf and we wish them both well.”
Outgoing Cambrian Printers owner Robert Read said: “Cambrian has been a significant employer in west Wales since 1860 when we printed newspapers, and 1927 when the Read family took the helm, so when we decided to sell, it was important we found a buyer who had a real understanding of what we do, and an empathy with our staff. Pensord is a hugely respected name in the industry, building a very successful business, and winning awards and credit for their expertise and the way they treat their ‘Pensord people’, so we feel there could be no better name to take Cambrian forward from here.”
“What’s more, Blake Morgan and in particular Rob Cherry have been hugely supportive throughout the whole sales process. Their expertise and guidance has made what could have been a stressful process very straight forward. Their ability to act precisely and quickly sets them apart in their profession. This is the second time that we have needed such services and our decision to use Blake Morgan proved to be absolutely right.”
Blake Morgan has an international portfolio of multi-national client companies (public and private), SMEs, owner managed businesses and start-ups with a need for high-quality corporate and M&A support and advice.
The corporate team is acknowledged within the legal industry and in the independent legal directories, for providing a first-class level of service across a wide range of transactions including mergers, acquisitions, sales, private equity and joint ventures.