Renfrewshire print business bought out for £6.5m
A Renfrewshire print finishing business is to modernise and expand after being acquired in a £6.5 million buy-out deal.
ACA Press Cutters, based at Inchinnan, has grown into one of the country’s biggest suppliers of print finishing and packaging services. It has some 80 staff operating from a 60,000 square foot facility.
The “buyer induced management buy-out” deal has been led by Joseph Keenan and Dara Changizi, with Royal Bank of Scotland contributing just under £3m through a combination of a loan, an invoice finance package and a hire purchase agreement.
Changizi is a Glasgow-based entrepreneur while Keenan is described as a “print industry veteran” working for a number of organisations including SCA Packaging and J Thomson Colour Printers.
The business will now focus on modernisation and expansion in key areas including health and safety, as well as investing in new machinery and internal systems.