High-profile industry identity David Minnett reveals that Group Momentum business will go on, transitioning over to the Rawson Graphics stable in the coming month. An intense week of negotiations have wrapped up following the shock announcement of Group Momentum's entering into administration, with Rawson Graphics agreeing to pick up selected assets, clients and associated IP of the iconic digital business.
While the Group Momentum name is sadly set to disappear, Rawson Graphics has stepped in to keep the heart of the business going strong and servicing its loyal customers. Speaking with Print21 David Minnett confirmed that the deal has been signed off, and revealed that a merger with Rawson had actually been on the cards for quite a while.
- Digital pioneer, David Minnett
"Momentum has a long standing relationship with Rawson Graphics, having worked closely with them for some years and whilst the sale of the business has happened under the current circumstances it is something we should all have done some time ago," said Minnett.
Minnett also sheds light on recent events, revealing that the unexpected loss of a substantial account with online greeting card provider, Moonpig, removed an important plank from the business. The sudden departure left the Group Momentum overextended and forced the company in administration.
He continues, "I have a great amount of respect for the directors of Rawson Graphics who have worked swiftly to bring this transaction to a positive conclusion so we can manage a seamless transition. With the support of key staff on both sides, suppliers and our partners in the digital printing space, Currie & Co, we see exciting opportunities for us all in the future."
Rawson Graphics has good form in industry consolidations, merging with 40-year-old boutique shop Artvue Printing in July last year. While Rawson has already bought up a number of Group Momentum's assets and software, it has not yet taken on any of the equipment, which is set to go up for auction next week.
Speaking with Print21 Lachlan Finch, director, Rawson Graphics, said, "We've been talking for some time about the fit of the businesses. The timing has made things a bit more difficult, obviously, but either way we would still be looking to consolidate both businesses."
Rawson Graphics has recently picked up a slate of new equipment, including a Komori Lithrone 640 with coater, a new H-UV LS529, running alongside a Screen PlateRite HD 8900 CTP setter. The Rawson team also bagged a NSW PICA gold last year for its work on Justus magazine, and a silver for its Revlon Colourstay Presentation Book. It currently possesses ISO 12647-2 accreditation, is a member of the prestigious Mellow Colour 100 club and is currently working towards the internationally recognised standard of ISO 14001 – which it expects to achieve by the end of 2014.