Pierce Group’s corporate finance and accountancy divisions have advised Lancashire printing group Calderprint on the acquisition of innovative printed promotional gift company, Whitney Woods for an undisclosed sum.
The deal takes Calderprint’s turnover to £10 million, employing 140 people across four sites.
Formerly based in Rossendale, the 20-strong Whitney Woods workforce has relocated to Calderprint’s headquarters in Dunnockshaw, near Burnley.
The Dunnockshaw premises was acquired by Calderprint upon the completion of its £932,000 deal to buy the buildings and assets of historic printer Hudson & Pearson in February this year. Pierce Group also advised on this deal, which was backed by NatWest Bank and the Lancashire Business Growth Fund.
Calderprint owner and managing director, Peter Birbeck, worked with Pierce for over four months to acquire a controlling interest in Whitney Woods from owner and managing director, Chris Woods.
Mr Woods founded Whitney Woods in 1992 with late business partner Paul Whitney. He retains a minority stake and is remaining with the business as a director.
Mr Birbeck said: “The team at Pierce has supported me through many years of growth at Calderprint and it was fantastic to have their expert advice for the next stage of the group’s development.
“Whitney Woods’ products are very unique and create a talking point as they produce memorable promotions for businesses. We look forward to taking this innovative product range to Calderprint’s trade customer base.
“Calderprint and Whitney Woods have been trading partners for 25 years so we have a really strong partnership.”
Pierce Corporate Finance Director David Sharpe said: “Calderprint is a forward-looking company which always seizes the moment when it comes to new business opportunities. We are delighted to have played a key role in securing the next stage in Calderprint’s expansion and look forward to supporting them in the future.”
Chris Woods, former owner of Whitney Woods, said: “I started Whitney Woods 25 years ago and recently retirement has been at the back of my mind. I wanted to sell the business that I worked so hard to create to the right company.
“Becoming part of the Calderprint Group is fantastic for Whitney Woods. It will open up exciting new opportunities for our unique product range.”
Legal advisors to Calderprint for the deal were Farleys Solicitors. Debbie King, Partner at Farley Solicitors, said: “Calderprint has enjoyed strong and sustainable growth over the years and the acquisition of Whitney Woods is a fantastic addition to the business. Peter and the management team have a clear plan for further business growth and we wish them every success for the future.”