Seamless deal ensures business expansion
Established in 1993 and based across two sites in North West England, Boss Direct Limited is one of the leading independent suppliers of print, office products and business equipment.
14 years ago, Boss started to produce print in-house and has steadily grown through acquisitions.
A well equipped business
Print is a turbulent trade, but Boss has benefited from acquiring companies through administration such as Armin & Butler, Dawn Print, The Cloister press, JM Roberts print – to name but a few.
The current business turnover is circa £5.5 million and it employs 73 people across the two sites in Bolton and Openshaw, Manchester. The main production presses and large format are housed in Manchester with digital and small offset in Bolton. The equipment used across these two sites ensures significant capability for the business and what it can offer its customers.
In order to expand the business and invest in replacing and enhancing current equipment, Boss required financial support in helping to acquire a Heidelberg Speedmaster XL75-10P colour from a company going into administration. Company Director, Tim Guest and Print Sales Director, Danny Baldwin met with Assistant Managing Director, David Bunker, of Close Brothers Asset Finance (Print division), to discuss this further.
An existing Close Brothers customer
Boss was already an existing customer of Close Brothers through a previous deal achieved through a successful Regional Growth Fund (RGF) grant, so David already had good background knowledge of the business and the way it operated. By reviewing the requirements, David was able to offer a Hire Purchase product, facilitating £400k of financial funding.
The XL75 would replace the current Heidelberg Speedmaster 74 and with the general build quality of the machine, this would mean less down time and eradicate costly repair bills.
New equipment to complement old
With there being a lot of creative agency customers who insist on quality, this new machine would help Boss to achieve this. Other clients are print management companies who are very price driven, but the XL75 would enable Boss to produce work more quickly with less down time. The equipment would also complement their Heidelberg Speedmaster CD74-5P colour.
Further to this, Boss was looking to diversify their two carton presses and this would enable them to approach new sectors such as the packaging industry.
Commenting on the deal, Danny said: “The approach from David with this offer was too good to miss. The XL750-10P colour was an obvious choice for our next investment and with the help of the team at Close Brothers; the deal was put together seamlessly. We look forward to working with Close Brothers again in the future.”