Walstead Investments has acquired UK print giant Wyndeham Press Group in a deal that brings the print business back into British ownership.

Walstead Investments has acquired UK print giant Wyndeham Press Group in a deal that brings the print business back into British ownership.

The investment company was established to acquire Wyndeham from its Icelandic investors with the backing of Leumi ABL, the asset-based lending subsidiary of Bank Leumi (UK) Plc.

Leumi ABL, led by MD Phil Woodward, provided a £19.6 million facility consisting of confidential invoice discounting and plant and machinery finance. The funds will boost the company’s working capital and restructure its debt burden, which was provided by Landsbanki.

Wyndeham is headquartered in Essex and has a reported turnover of £80 million, making it the third-largest print business in the UK. The company is expected to return to profitability this year.

Woodward said: “We have worked with Walstead on other transactions, so they knew we could act quickly to structure the right deal. The timescales were challenging, but we were able to go from introduction to completion in under four weeks.”