gdb Members Gemini Print Group Buys Foundry Press from Administrators
Published: 03 Jul 2019
Everyone at Gemini Print has been delighted to welcome new Foundry Press colleagues and clients since Managing Director, Steve Cropper and the Directors completed buying the Horsham based firm from administrators FRP Advisory.
The administrators said that the 21-staff Foundry Press “had suffered cashflow pressures following a period of challenging trading conditions”.Gemini Print Group ( Brighton, Shoreham by Sea, Bristol, London and Durham), bought Foundry’s business and assets from the administrators via a pre-pack sale, with all of Foundry’s staff TUPE’d over to Gemini Print. Foundry’s previous owners, Bruce Phillips and Alan Houliston, are still within the business.
Steve said “We were trying to do a deal to purchase the company [before it went into administration] but time ran out for Foundry.
They carried on running when they went into administration, and even though we didn’t know whether Gemini Print was going to be successful in the pre-pack purchase, we funded the company during that situation of uncertainty. They are a commercial jobbing printer with a very good client base and good staff that will complement the Gemini Print team.”
When the negotiations were in progress, Bruce and Alan prioritised making sure that all of the staff had a position within Gemini Print going forwards, regardless of whether they would be based in Horsham, or moved to Shoreham. People will be relocated to Gemini Print’s Shoreham base during the next few months, so the move can be completed before the license obtained from the administrators on Foundry’s current leased premises comes to an end.
The administrators commented: “This deal delivers the best result for all stakeholders, and most importantly saves jobs in Sussex, as well as ensuring continuity of service for customers. We wish the team at Gemini Print all the success for the future.”
Foundry Press clients have commented that they are pleased that Gemini Print is the company that has taken over as they recognise the track record of consistent investment in leading-edge technology and skills, the breadth of services for all aspects of communication and promotion, plus the multi-award winning focus on friendly and efficient service, quality manufacturing and environmental management standards.
Steve said It was good to hear someone sum things up as: “Big enough to have the right skills and services, but still the right size to care about even the smallest customer.”
Visit Gemini Print here: https://www.gemini-print.co.uk/