CPS Group has acquired the assets of fellow printer and National Bed Federation member Nelson Labels after the latter went into administration last week. Manchester-based Nelson announced to staff on Tuesday 29 October that the company was entering administration with immediate effect and that South Wales firm CPS Group had purchased the assets of the business. All staff at Nelson Labels have been made redundant and all of Nelson Labels’ creditors have been written to.
Simon Green, managing director of CPS Group, confirmed the news to Furniture Produciton saying that Nelson’s Manchester office would be closed with all future trade being conducted at CPS Group’s Caerphilly premises.
Expanding on the reasons behind the purchase, Mr Green said that the acquisition of Nelson Labels would help CPS develop its expertise in the carpet label sector – an area of the market that CPS intends to build on going forward. “The carpet market is our next big focus now, then it is soft furnishings. “This isn’t the last of our acquisitions, either,” added Mr Green. “I can’t go into any details at the moment, but we are looking at two more acquisitions next year.”
The deal to takeover Nelson comes after CPS took over print firm Jago Litho in March 2013, in response to a growing order book and demand for its services.
Jargo Litho was a print company local to CPS’s own factory in South Wales that specialised in full colour print and publishing.
“We’re giving our customers what they want. They tell us what they’re after – quick turnarounds, low volumes, competitive prices – and that’s what we’re giving them. We’ve geared our business model to our customers requirements and not the other way round,” added Mr Green.