Funding from our Print team has played a key part in Circle Media Group (CMG) acquiring leading European book printing group CPI in one of the biggest deals of its kind.
"This was a true Close Brothers deal but with the added element of being multi-jurisdictional," said David Bunker, Assistant MD, Close Brothers Asset Finance Print division. "A great customer outcome with the visionary purchase of CPI by a long standing contact of Close Brothers Asset Finance and Leasing who chose us despite strong competition.
"It was just breath-taking teamwork and expertise shown by all in Close Brothers Asset Finance Sidcup and Germany. Completion was led by Jon Bennett who has shown great leadership and energy in getting the customer the deal to complete on time and without any issues."
This deal will ensure CMG further strengthens its European printing business and establish a major presence in the UK
CPI has revenues of €360 million, 2,500 employees and 16 factories spread out over 5 countries (France, the UK, Germany, Spain and Czech Republic). As one of Europe’s largest book printers and a history that goes back to 1713, it produces over 400 million books per year. CPI delivers literature, scientific, technical and medical books and printed documents for major publishing houses, large industrial groups and administrative bodies.
Circle Media Group has 2,700 employees and revenues of €550 million. With the acquisition of CPI, Circle Media Group will have combined pro-forma annual sales of €900 million and more than 5,000 employees, making it the largest independent European group in the delivery of print and media capabilities.
The group will have 26 printing sites in 10 European countries as well as an operation in the US, 135 printing presses of which 29 are digital and will process more than 1 million tonnes of paper a year. In April of this year, Circle Media Group became the new name of this group, together with the launch of a new group structure. This followed the acquisition by CirclePrinters of Roto Smeets Group last year and the recent acquisition of Corelio Printing in Belgium.