Suffolk printing business taken over by fast-growing investment empire
- Credit: Ancient House
An Ipswich printing company with a £17million turnover has been snapped up by a fast-growing investment business for an undisclosed sum.
All 100 jobs at Ancient House Printing Group will be retained following its acquisition by RDCP Group, the new owners say.
It's the first acquisition of 2021 for the Mayfair-based investment empire - which aims to become the largest private company in the UK - and its fifth in the last 12 months.
Other recent purchases include Chilango, Macair, Buxton Water and Su-Fix Precast last year.
Ancient House was purchased by its previous owners in 1971.
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The London business was launched in 2015 by investment bankers Sameer Rizvi and Iryna Dubylovska. RDCP Group is described as "a diversified conglomerate" with £140m worth of investments across five sectors employing 675 staff in the UK. Ancient House is its 15th acquisition since 2015.
Ancient House, a large commercial print business, is based on a 120,000sq ft site and provides printing services to a range of blue chip organisations and regional firms.
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RDCP chief executive Mr Rizvi said: "Ancient House Printing Group is a market-leading commercial printing business that has a terrific reputation in the print media sector, and we are delighted to welcome the business to the RDCP Group.
"Besides their history of profitable growth, what truly attracted us to the business was their high-profile client list, state-of-the-art factory space, and their ambitious management team whose industry experience really stands out.
"Despite operating through a pandemic environment, the business has shown resilience and is now primed for its next stage of growth. We are thrilled to be working with Michael Underdown and Allison Berry, and their senior management team."
The new owners said it would be "business as usual" for staff at the Hadleigh Road Industrial Estate-based company.
Mr Rivzi said they were looking forward to "using our expertise to support the management team drive forward the business".
"The firm’s approach of combining the highest level of customer care, with innovative print solutions and cutting-edge technology has helped the business to withstand the challenges of the pandemic and be well placed to meet market demands as the world move towards normality and the need for print media services increases." he said.
Joint managing director of Ancient House, Allison Berry said: “We are delighted to join the RDCP Group. This is a new and very exciting chapter for Ancient House Printing Group, one of growth, development, and new opportunities. The business has a great history, which will continue under the impressive leadership of Sameer Rizvi and Iryna Dubylovska.”
Fellow joint MD Michael Underdown added that they were very much looking to the future.
"Sameer and Iryna are a dynamic duo. Ancient House Printing Group will continue to thrive under their leadership, they bring a wealth of knowledge and expertise securing the company’s position as a leading commercial web and sheetfed printer in the UK,” he said.