Nankervis Brothers business snapped up by the Kiwis

The acquisition furthers the move of the Pacific Print Group into the Australian graphic arts market, fuelled by Sydney-based Gresham Private Equity's purchase of a 50 per cent stake in the Group in late 2005.

When the sale is completed in early April, four of the eleven businesses owned by the Pacific Print Group will be located in Australia.

The company currently employs around 60 staff, and was established in the 70's by Garry, Ray and Greg Nankervis. The high profile brothers will continue to manage the business after the sale goes through, and will invest in the Pacific Print Group as part of the deal.

“We are very pleased that Impact is now part of the Pacific Print Group and look forward to contributing to the broader Group,” said Ray Nankervis.

While the Nankervis brothers are relinquishing their controlling stake in Impact Print, they will remain majority shareholders in their Impact Digital and Southern Colour businesses, and have confirmed there will be no changes to ownership structure.

Bryan Edwards, financial controller of Impact Printing, claims the sale will protect the long-term future of the business, as well as its employees and customers, and is confident the commercial printer will remain in good hands.

“We did a lot of investigation into the Pacific Print Group prior to the sale, and we looked carefully at how it conducts itself with acquisitions. Impact Printing is extremely comfortable with the process,” said Edwards.

Edwards confirms that one of the primary reasons Impact Printing agreed to the Pacific Print sale is the group's history of leaving the operations of its acquisitions intact.

“That was one of the main things that attracted us to the Pacific Print Group,” says Edwards. “It purchases companies, and continues to run them under the existing management structure. We don't envisage any changes to the operation of Impact Printing.”

Sandy Maier, chairman of Pacific Print, claims the Impact Printing purchase is a key strategic initiative that would boost the Group's annual turnover to more than $190 million, and increase total staff to more than 750.

“Impact Printing is an exceptional company that is highly regarded in its market and we believe it will make a strong and immediate contribution to the Pacific Print Group,” said Maier.

Maier says the purchase of another Australian business is in step with the group's strategic plan of developing an even stronger presence in the country, and illustrates its capacity to secure attractive investment opportunities on both sides of the Tasman.

“We will continue to work closely with Gresham Private Equity in the evaluation of other potential investments and believe Pacific Print Group is very well positioned to play a leading role in industry consolidation,” said Maier.

The Impact takeover comes after Pacific's negotiations with another high profile firm, Vega Press, faltered last year.