Five Arrows Leasing Group, the Rothschild-owned asset based finance company, has acquired the business and assets of Print Finance plc, a leading lessor and broker specialising in the print sector.

Paul Coggins, MD, Print Finance

Print Finance was founded 20 years ago by current managing director Paul Coggins. Currently it is one of the few remaining leasing and brokerage companies to specialise in the graphic arts and printing sectors.  This has come about because many other funders have reduced their lending to printing companies due to the economic climate, the high-ticket value and the perceived commercial risks associated with the sector.

The resources and backing of Five Arrows and Rothschild aim to give Print Finance a new ability to offer directly the printing sector financial support which is not readily being delivered by other traditional funders who are seeking to limit their exposure to risk.

Exciting development

Sam Geneen, MD, Five Arrows Leasing Group

Sam Geneen, managing director of Five Arrows Leasing Group said, “In the current climate, the print sector requires financial support to invest in new capital equipment and this is not being delivered by the banks. Having a newly invigorated player in the print finance market able to offer direct solutions, as well as brokered finance, is an exciting development.

“The understanding that Paul and his team have of the printing sector, coupled with the resources of Five Arrows and Rothschild, will undoubtedly bring more competition in the market – and this can only be a good thing for printers seeking finance.”

Print Finance works with printing firms of all sizes, although its typical customer is a commercial printing operation with a turnover of around £5m, up to 50 employees and a diverse business combining commercial litho and digital printing with multiple disciplines. Equipment financed ranged from £10,000 up to £2m – an investment that would include the larger Heidelberg and Komori machines.

A flexible approach

Neil Armitage, managing director of Diamond Print Services and one of Print Finance’s first clients said, “Print Finance has helped us grow our business from a standing start 18 years ago to a successful £6.5m turnover operation. From day one they were the only people with both a flexible approach and an understanding of what we as a printing firm need from a finance partner – we will continue to use them for the majority of our capital investments and wish them well.”

Paul Coggins, founder and managing director of Print Finance told Asset Finance International that having started Print Finance in the early 90s recession and successfully continuing to grow the business through a further two downturns, the company’s business model is well honed.

He said, “The backing of Rothschild and Five Arrows means we are better placed to extend our support to the industry. I believe that there is the demand in the current market place for an additional specialist funder with a deep understanding of the market place we operate in.”

New assets to finance

Coggins has vast experience of the print finance industry and enthuses about the new range of digital printing presses that are entering the market. “These”, he stresses, “are not to supercede the conventional models, but rather complement them, serving, as they do, the personalisation side of the sector.”

He is also bullish about the print industry recovering from the recession. “The amount of companies going out of business is declining,” he explained, “and there are a good number of very well-run companies that are thriving and set to benefit in the post-recessionary environment.”

Coggins will continue to run the business from its current offices in Brasted, Kent and will retain the Print Finance brand.

Article contributed by Edward Peck, Asset Finance International