Cogent B2B completes St Ives Bradford acquisition
Business-to-business services specialist, Cogent B2B, has completed the acquisition of St Ives Direct Bradford (SIDB) from the St Ives group, which offers a range of wide-format and sign printing services.
Wednesday, 02 Oct 2013 10:58 GMT
Cogent B2B has completed a number of purchases in the Yorkshire region in recent times
SIDB is a £35m turnover business that employs 180 staff and offers direct mail, digital print and a range of commercial print capabilities to customers in the UK.
“The St Ives Direct Bradford business is a great specialist provider with a solid reputation that has seen it through some tough trading conditions, and it is a perfect fit for the growing Cogent group of companies,” explains Cogent B2B chief executive officer, Kevin Dunstall.
He adds: “We are looking forward to investing in the business and strengthening the management team, bringing it alongside the other strong B2B service providers we have in our growing Yorkshire based group.”
The St Ives Direct Bradford business is a great specialist provider with a solid reputation that has seen it through some tough trading conditions, and it is a perfect fit for the growing Cogent group of companies”
The total consideration for the sale will be £8m—comprising £3m payable immediately and £5m worth of deferred considerations over two years.
St Ives will retain the ownership of the current SIDB property on Bradford and will lease it to SIDB at a market rental rate.
The acquisition will further strengthen Cogent B2B’s presence in Yorkshire, having also completed a number of other purchases in recent times.
It acquired Leeds-based direct mail and digital media specialist Griffin, Bradford direct mail expert Prospect Mailing Services, and packaging supplier Boxco.
