Swindon-based specialist printer Multisets has used a six-figure bank funding package to hit the acquisition trail as it continues to expand into security printing.
The firm, formed more than 50 years ago, acquired cheque production business Bank Security Printing to grow its position in the niche security area.
The £500,000 Clydesdale Bank loan will also enable it to take on an unspecified number of new staff to continue to expand the business. Multisets, based on the Groundwell Industrial Estate, produces personalised cheques for banks, solicitors, schools, auctioneers and housing associations that include a number of sophisticated anti-fraud features such as watermarks, holograms and specialist inks.
It also makes mailing labels for the retail industry and is one of only six UK businesses to produce integrated labels for e-commerce deliveries. The process, which uses specialised equipment, creates sheets that include peel-out labels for delivery and returns which are included in the customer’s package along with their invoice. This makes the returns process far more convenient for customers.
Multisets director Martin Pulley said: “Over the last decade we have experienced significant development in a niche market. Being one of the few businesses in the UK to produce integrated labels has been especially important, with the increase of online retailers creating a huge area of opportunity for us. We believe this growth will allow us to further invest in recruitment over the next few years.
“The acquisition of Bank Security Printing has been a highly positive move for Multisets, providing us with even more experience in the specialised field of security printing and reinforcing our place in the marketplace.”
The loan was facilitated by John Cary, relationship manager at Clydesdale Bank’s business and private banking centre in Gloucester.
Pictured, from left: John Cary, relationship manager at Clydesdale Bank, and Multisets director Martin Pulley
