The presses have already started rolling again at a printing works that went to the wall after more than 100 years in business.
Calderprint, of Manchester Road, Burnley, paid £932,000 for the building and equipment at Hudson & Pearson in Dunnockshaw. The site has been renamed as part of Calderprint and is expected to have a workforce of 20.
The family-owned firm was founded in 1906 by Solomon Hudson, who was working as a letterpress printer for the Burnley Express, and print buyer Thomas Pearson.
It went into administration in November, blaming difficult trading conditions.
The asset-buying deal was made possible from a £186,400 Lancashire Business Growth Fund grant through the East Lancashire Chamber of Commerce, with NatWest providing the remaining funds.
Calderprint owner and managing director Peter Birbeck anticipates the acquisition will boost turnover from £7.5m. to £10m. within the next two years. The company operates 16 presses at sites across Lancashire and aims to increase staff levels to more than 100.
The take over deal was negotiated with administrator BDO by chartered accountants Pierce’s director Mark Maden-Wilkinson. The Blackburn firm’s finance director, David Sharpe, dealt with the grant application and business planning.
Grants through the Lancashire Business Growth Fund are on offer until spring 2017. Firms can get in touch with the Chamber of Commerce to find out more.