UK reprographics and printing firm The Color Company, which operates nine locations in central London, has acquired the assets of Service Point USA and its related firm, CFI Inc. The Color Company is owned by Elgin Loane, a London-based entrepreneur who owns the Irish Post newspaper and 22 weekly newspapers.
Here is the entire press release:
COLOR COMPANY LIVES UP TO THE ROOTS OF THE NAME
It is announced today that Color Company 1 Inc., a wholly owned subsidiary of the Color Company (TM) Limited domiciled in the UK has acquired the entire assets of Servicepoint US Inc. (“Spusa”) and CFI Inc. (“CFI”) from the syndicate of bank lenders to Service Point SA under the aegis of Ernst and Young administrators to GPP Capital PLC.
Spusa and CFI ceased certain operations on Friday 8th November 2013. Before closing they operated 7 locations in the Philadelphia to Boston corridor offering printing, finishing, wide format and digital reprographics as well as serving nationwide many architectural and construction businesses through their On Site Services division.
Elgin Loane, Managing Director commented “In London our brand has been spelt the American way Color instead of Colour for years so the addition of this acquisition is indeed heartily welcome. Many of our London based clients have offices on the US Eastern sea board so the synergy is self-evident. Spusa and CFI were managed at a distance from Barcelona but our management team will be far more supportive by being hands on”
He added “the task ahead of us is to re-establish the business and this we have already started at New Haven CT where the business has reopened where the previous staff have re-joined and started work immediately on re-engaging with their clients. This process will continue in the other US major cities.”