Assisting Europe’s largest web offset printer with financing
Close Brothers Asset Finance has provided a significant finance facility to Walstead Group, Europe’s largest web offset commercial printer with revenues in excess of €680 million.
Jon Bennett, Commercial Director of Close Brothers Asset Finance’s print division: “This was a complex transaction involving multiple stakeholders and requiring significant experience of the print sector. This deal is testament to our ability to both understand complicated international transactions and to make them happen.
“The senior management teams of Close Brothers Asset Finance and Walstead have considerable experience of working together following Walstead’s 10-year acquisition spree in the UK and mainland Europe. Walstead is a major international player with a robust medium and long-term strategy which we are proud to play our part in helping them achieve.”
Julian Rothwell, CFO of Walstead: “We have been impressed by the Close Brothers Asset Finance team’s knowledge of our business and, indeed, the wider commercial print sector. Likewise, the financing arrangement, which although complex and extensive, was executed in a diligent and timely manner by Close Brothers Asset Finance.”
