Blackwood-based Pensord Press, one of the UK’s leading magazine printing companies, has secured a £3.2 million funding package from HSBC.
Pensord has used part of the funding to buy a state-of-the-art colour printing press.
The new press will increase Pensord’s capacity and efficiency and will enable the business to access new markets.
Darren Coxon, Managing Director at Pensord Press, said: “This deal is part of an important strategic milestone for our business.
“The new press not only enables us to improve the high quality service we already offer our customers but it will also create new revenue streams for us which will help us grow the business in areas we previously haven’t been able to operate in.”
Warren Lewis, HSBC’s Head of Corporate Banking in Wales, said: “Although the printing industry has seen a lot of change in recent times, Pensord has adapted and developed its business to maintain its outstanding reputation in the marketplace.
“This deal provides the financial support necessary to ensure Pensord remains at the forefront of the industry now and in the future.”
From its headquarters in Blackwood, Pensord prints around 400 regular magazine titles. The firm employs 150 people and has a turnover in excess of £12m.