A printing firm in Rhondda Cynon Taf has completed a management buyout safeguarding 20 jobs.
Printing Components, which trades in Aberdare, will continue to operate after being purchased by local entrepreneurs, Lisa Cook and Gareth Arlow, who have enjoyed a strong working relationship with the previous owners.
The deal, which was facilitated with funding from HSBC UK, saw Ms Cook and Mr Arlow, who also own Cwmbran business Just Rollers, take on the firm to ensure business continuity.
The pair have had a 25-year working relationship with the previous owners of Printing Components, Paul Davies and Dr Meirion Rees, who decided to retire from the business.
The buyout allows the companies to collaborate more in the future and ensure an uninterrupted supply of products from Printing Components to Just Rollers.
Printing Components was established in 2009 and provides engineering services to the printing, agriculture and machinery sectors, including the production of parts for mini-diggers and crop sprayers. The business focus remains on the manufacturing of printing rollers.
Ms Cook said: "Gareth and I have worked closely with the team at Printing Components for decades, so we jumped at the opportunity to ensure continuity for both businesses and support Paul and Meirion’s decision to enjoy a well-deserved retirement."
She added: "This would not have been possible without the help of HSBC UK, namely Ryan Pope and Mark Hewitt, as well as Simon Tee at Kilsby & Williams. The deal has enabled us to secure and provide ongoing employment for the 20 people at Printing Components, and support additional work for the surrounding area through subcontracting and material suppliers."
Zena Perry-Hartle, area director of Business Banking Wales at HSBC UK, said: "This is a great opportunity for two well-run businesses to grow and ensure the safety of local jobs. The new owners have the passion and drive to take both businesses forward and continue to expand, and I look forward to seeing them continue to thrive in the future."
