Duff & Phelps Ltd, the joint administrators of Service Graphics Limited, has secured a sale of assets at the Chessington site of Service Graphics to CSM Live.
CSM Live provides branding and live experiences across the globe and this investment will strengthen its current capabilities as well as supporting the future growth of the company. The purchase includes printing, laminating and finishing machinery of the former Service Graphics Chessington business, whilst CSM Live have also taken a short term licence to occupy the Chessington Site.
Allan Graham, of Duff & Phelps Ltd, commented: ‘While it is regrettable that a complete sale of the site wasn’t achieved, we are pleased to have achieved a sale of these assets.’
Initially, the machinery will remain in Chessington with CSM Live developing plans to integrate the machinery into the wider business over the coming months.
CSM Live CEO, Alastair Bewick, commented on the asset purchase: ‘The last month has been a difficult time for many people related to the Service Graphics business and a lot of former clients have also been left in a position of uncertainty. Following the asset purchase, we are clearly now well placed to provide support where we can.
‘Overall, this investment demonstrates our own confidence in the industry, and provides greater capacity to support our clients as we look forward to one our busiest years ever.’