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Business

Walstead finalises acquisition of Let’s Print

Walstead Group has completed is previously announced acquisition of Let’s Print Holding (LEYKAM Let’s Print), after raising £33m from Rutland Partners to help facilitate the deal

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Walstead’s acquisition of LEYKAM Let’s Print is the third investment from Rutland Fund III

With revenue of €225m and 730 employees, LEYKAM Let’s Print has two sites in Austria and one facility each in Slovenia and the Czech Republic.

Walstead, which operates under the Wyndeham brand in the UK, and Eurohueco and Rotocobrhi in Spain, says that the deal will create a combined business that boasts revenue of €530 million and employs over 2,300 staff at 12 production facilities in five countries.
 
Mark Scanlon, chairman of Walstead, comments: “LEYKAM Let’s Print is an exceptionally well-managed, profitable and successful business which has recently received high levels of investment. It will act as our hub for further expansion into Central and Eastern Europe.

We see plenty of further potential opportunities to progress our strategy in Europe, and I do not believe any other European print group has the ambition or ability to do what we are doing

“This was a complex transaction, and we chose Rutland because of their experience of these situations and their strong appetite to back our business.

“We see plenty of further potential opportunities to progress our strategy in Europe, and I do not believe any other European print group has the ambition or ability to do what we are doing.”

As part of the deal, Scanlon and Paul Utting will continue to lead the enlarged Walstead Group as chairman and chief executive, respectively.
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