9 April 2019, London/Paris/Amsterdam – In a private transaction Circle Media Group (“CMG”), a leading European printing and media group, announces today that it has sold its interest in book printing group CPI to the Private Wealth Office of entrepreneur and award-winning private investor Richard Hughes and his family (“RHWO”).
Richard Hughes has a highly successful track record of investing directly and indirectly across multiple sectors, including as founder and non-executive director of boohoo.com and majority stake in Crawford Healthcare.
Paris-based CPI is the largest monochrome book printer group in Europe, printing more than 450 million books for 2,000 clients every year. With 16 factories based across five European countries, the company employs 2,800 staff.
Founded in 1996, CPI is renowned for its innovation, being the first European printer to have massively invested in digital inkjet printing. This continued investment in computerised and digital printing solutions forms the basis of its service offering, which includes: on-demand printing, automated restocking, zero stockholding, distribution and web-to-print, associated to its large traditional offset printing base. CPI has the potential to grow based on its global presence as well as its advanced workflow and supply-chain solutions. CMG has decided to sell its interest in CPI to a strong financial owner to facilitate CPI’s continued growth and expansion. Pierre-Francois Catté will remain Executive Director of CPI.
The transaction has been approved by the European work council and some local work councils. Simon Ashton, Chairman at RHWO: “Our wealth-management fund understands that CPI needs a nimble structure and strong financial position to keep its lead in the books market. We see what CPI has built over the years and believe this as an excellent building block to further growth, both in Europe and beyond. We aim to support CPI’s leadership team in achieving its growth ambitions.”
Pierre-Francois Catté, Executive Director of CPI: “Over the past years we have established ourselves as the leading European book printer and as a trusted partner for publishers and distributors. For them our advanced workflow and supply chain solutions are key. With the support of RHWO, we can continue our strategy of collaboration with our customers to create a sustainable platform to deliver books to consumers. Because after all: people still want books.”
Peter Andreou, Executive Chairman and CEO of CMG: “One of the main reasons for our acquisition of CPI was their range of digital capabilities and supply-chain solutions. Over the past year, however, we have acknowledged that CPI and our commercial printing businesses progress at different paces. In order to keep its lead, CPI needs separate focus and support to further develop its core strengths. RHWO will be an excellent financial and strategic partner for CPI in providing this. Meanwhile CMG will continue with its consolidation of the European commercial printing industry.”
CPI has revenues of €360 million, 2,500 employees and 16 factories spread out over 5 countries. As one of Europe’s largest book printers and a history that goes back to 1713, it produces over 400 million books per year. CPI delivers literature, scientific, technical and medical books and printed documents for major publishing houses, large industrial groups and administrative bodies.
For more information:
CPI: Pierre-François Catté, Executive Director
T : + 33 (0) 1 55 60 56 04 / M : + 33 (0) 6 03 69 67 88
Richard Hughes & RHWO
Richard Hughes is a successful entrepreneur and investor, with 30 years of experience in actively investing his own capital to provide support to growing businesses in a wide variety of industry sectors. Managing his and his family’s private wealth and investments through RHWO, he is one of the most successful award-winning investors based in the North of England. Richard was previously a founder and non-executive director of boohoo.com, the UK based online fashion retailer. This company was listed on the London Stock Exchange in March 2014 and is currently valued at over £2bn. He also acquired a majority stake in Crawford Healthcare in 2009, when its parent company entered into insolvency. He grew the turnover from £3m to £30m and expanded the business internationally. In 2018 the company was sold to US healthcare group Acelity (for a reported £100m by The Telegraph).
Richard Hughes is also the founder of Zeus Capital, a London and Manchester based boutique investment bank, involved in flotations, capital raisings, mergers and acquisitions for both public and private companies which raises circa £1 bn per annum for growth companies.
Richard also sits on the boards of the charities Maggies, providing support to people with cancer and their families & friends, and Bookmark Reading, supporting reading and literacy among children.
For more information
RHWO: Simon Ashton, Chairman
T: +44 (0) 1423 408000 / M: +44 (0)7971 815678
Circle Media Group
Circle Media Group is a leading European printing and media services group headquartered in Amsterdam, the Netherlands. The Group has printing & media operations throughout Europe in Austria (Oberndorfer Druckerei, Salzburg), Belgium (Corelio, Erpe-Mere), Germany (J. Fink Druck, Ostfildern and Kőrner Druck, Sindelfingen), Spain (Impresia Ibérica, Madrid, Toledo and Barcelona), The Netherlands (Roto Smeets Deventer, Roto Smeets Weert and Senefelder Misset, Doetinchem) and Hungary (Antok, Celldömölk). Its marketing communications operation MPG is based in Amstelveen, the Netherlands, New York, United States and Barcelona & Madrid, Spain (as Espacio y Punto).
For more information:
Circle Media Group: Bert Holtkamp