Cannock printing business expands
KJB Print, based in Cannock, has established a third production site in Walsall after securing a £150,000 working capital facility from Lloyds Bank Commercial Banking.
Based at the former premises of WM Print, the new business will trade as WM Printing Solutions and will continue to specialise in producing brochures, printed packaging and exercise books for schools.
Established in 1989, KJB Print has created a group of specialist printing and manufacturing companies based across the Midlands, working collectively to provide a wide range of services including lithographical, digital printing and large format, to include personalised signage and wall graphics for its diverse customer base that comprises mainly small and medium-sized businesses across the UK.
The business is also a leading producer of high quality brochures, packaging printing and school exercise books. The creation of WM Printing Solutions will complement the group’s existing capabilities in this niche space. The deal includes the acquisition of WM Printing Solutions’ machinery including a B1 6 colour litho press and a cold web offset press which is one of a few operating in the UK. This expansion is set to improve the group’s efficiency and enable it to expand its product range and production capacity.
WM Printing Solutions employs 11 people at the existing premises on Frederick Street in Walsall and the expanded KJB Print group now employs more than 50 people across its three sites.
KJB Print plans to hire additional members of staff in early 2019 at both the Walsall and Cannock premises to support an increase in production to meet customer demands. The firm’s annual turnover is expected to increase by 20 per cent to £5.5 million in the next 12 months.
Stephen Egerton, group commercial director at KJB Print, said: “The addition of the third production site represents an excellent opportunity to bring the experience and capabilities of WM Printing Solutions into the KJB Print group. The site not only enhances our current production capabilities, but also brings additional revenue growth and new opportunities to our business.
“We’ve worked with Lloyds Bank for more than 10 years and the team has a deep understanding of our business and how best to expand within the print manufacturing sector. We look forward to working with them as we continue to grow.”
Abigail Holloway, relationship manager at Lloyds Bank Commercial Banking, said: “The exercise book sector in the UK is worth more than £32million and so represents a key opportunity for KJB Print. The business is continuing to increase its turnover year on year and it’s fantastic to see new employment opportunities being created in the West Midlands.
“We’re committed to helping Britain prosper by providing tailored funding support to ambitious firms like KJB Print, as they expand into new specialisms and sectors.”