SMB have advised client Precision Proco Group on the terms of its purchase of Photobox’s manufacturing and production facility located in Park Royal, West London, one of the largest manufacturing facilities of its kind. Under the terms of the deal, Precision Proco Group will continue its strong partnership with Photobox under a long-term supply agreement. The site employees over 130 staff who transferred to Precision Proco Group as part of the deal.
The team at SMB was led by Corporate Partner Natalie Wright who was assisted by Associate Rob Hepburn, on the corporate side, and Senior Associate Nadia Zegze, on the commercial side. The team were also supported by Partner Tamara Ludlow and Senior Associate Daniel Cotton on employment and Senior Associate Marios Georgiades and Associate Jodie Sheldon on property.
The deal has cemented Precision in a “market-leading” position within the print-on-demand market, with the manufacturing facility geared to produce canvas prints, photo tiles, mugs, phone covers, greetings cards and silver halide prints.
CEO of Precision Proco Group, Gary Peeling, had this to say of the deal:
“Our vision is to be the UK’s specialist in on-demand products and to be able to connect and network the sites to any business or any user that wants to make use of it all. We’re also working very hard on the technology at the front-end,”
“A big part of our strategy is connecting these market-leading facilities to smaller customers in a way where they can on-board themselves.”
“It’s a very substantial facility and what it does for Precision Proco Group is give us a market-leading position… We’re already a significant player in books and flat prints, what this does is complete that circle,” he said.
“In terms of producing print-on-demand products, we now have a full suite, at scale. And also, the expertise – there’s a best-in-class management team there.”
Peeling also stated that the buy would succeed in propelling the group turnover towards £75m in 2022.
All at SMB wish Precision Proco Group the very best in their future. You can read more about the deal here.
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