Printing firm cashes in with cheque business acquisition

16th March 2015

Swindon-based printing business, Multisets Ltd, has created new jobs and is anticipating further growth after acquiring Bank Security Printing Limited with the help of a six figure funding package from Clydesdale Bank.

The loan was provided to support the purchase of cheque production business, Bank Security Printing, and was facilitated by John Cary, relationship manager at Clydesdale Bank’s business and private banking centre in Gloucester. The acquisition will allow Multisets to further diversify its security printing product range. Additionally, the funding has contributed to job creation with new positions opening up since the purchase.

Multisets is a traditional printing business, established more than 50 years ago, which specialises in creating bespoke cheques for a range of industries and integrated labels for the retail industry.

Multisets produces personalised cheques for banks, solicitors, schools, auctioneers and housing associations, with a number of anti-fraud features incorporated. Its client list of renowned financial brands includes the world’s oldest surviving bank which was established in 1472.

There are approximately only six businesses in the UK that produce integrated labels which are used for product delivery in ecommerce. Using specialised equipment, Multisets creates sheets that include peel-out labels for delivery and returns which are included in the customer’s package along with the invoice. This makes the returns process far more convenient for customers.

Martin Pulley, director of Multisets, expects the business to encounter further growth in the future.

Martin 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. We have enjoyed working with the team at Clydesdale Bank to complete this purchase, who have a sound understanding of our business and our future ambitions.”

Rob Spearman, head of Clydesdale Bank’s business and private banking centre in Gloucester said: “Multisets has a wealth of knowledge and skills in printing, providing its services to renowned UK and international businesses. The acquisition will help further diversify the business’ offering, opening them up to further growth.

“As economic conditions continue to improve, Clydesdale Bank remains focused on supporting the growth ambitions of businesses in the region.”