A Leicester print business has been brought by two competitors, with the new owners saying the move had protected jobs.

Spectrum Printing Services has been bought by a consortium belonging to rival business Streamline Press and its sister company Baxters.

The three commercial printers – which are based in Leicester and Hinckley – will now share a customer-base and production resources, with growth expected to increase by around 25 per cent, leading to a combined annual turnover of £13 million.

Spectrum, whose turnover stands at £2.4 million, will continue to trade as a separate entity with all 22 staff remaining at its print works in Hamilton, just north of Leicester.

Streamline Press, which is in Beaumont Leys, provides printing services for clients such as Royal Crown Derby, Everest Home Improvements and Chatsworth House.

Hinckley-based Baxters counts Leicestershire County Cricket Club and Triumph Motorcycles among its customers, while Spectrum works with brands such as the National Space Centre.

The acquisition was completed on February 14.

To improve efficiency, day-to-day running of each business has been integrated meaning they will share some back-office support and make use of the same software for workflow, estimating, job bag creation and scheduling.

The print group's director and shareholder Mark Lockley said the acquisition, for an undisclosed fee, had come following months of talks and will help the businesses grow.

He said: “A great new brand has been brought into the fold.

“As a competitor, Spectrum always shared our values of putting the customer first and delivering great quality print, exceptional service and cost effective solutions.

“We are now going to drive a single business with three operating sites across Leicestershire that will form as the best commercial printers in the East Midlands.

“Our service offering to customers will grow over the coming years with increased production capacity, quicker turnaround times and economies of scale – meaning even more value for money for our customers.”

Mr Lockley said 11 staff from Leicester’s Taylor Bloxham Group, which went into administration earlier this month, had also been taken on by the businesses.

They included two sales people alongside account managers, a number of printers and other specialist staff – including Simon Wood who was at Taylor Bloxham after 23 years and has become the new business development manager at the extended print group.

Mr Wood said: “It was imperative for me to join a local business with ambition and a heart which puts people first.

“There is a definite family feel which translates into staff who care about the standard of work they produce.

“In an industry where there is over-capacity and apathy, the skill needed to produce high quality print is required in an abundance, we have that within the three businesses.”

Mr Lockley said they anticipated further expansion to the group’s 99-strong workforce over the coming year to help keep pace with the demands of their 500-or-so customers.

The consolidation strategy was drawn up by Mr Lockley, group sales director Richard Smith, Baxters’ managing director Alastair Higgins and Spectrum’s operations directors Paul Clifton and Karl Nicholson.

All five will complete a senior management team.

Group sales director Richard Smith said: “The sales team are keen to get the word out and strengthen relationships with new and existing clients.

“In the first couple of weeks together, we have made giant steps in integrating team members, sharing some really good ideas and spreading work around to balance daily production and delivery pressure, 2020 has started with a bang.

“Our commitment to invest in people and technology is bearing fruit with new customers coming on board on a daily basis.

“More broadly, it’s fair to say Leicestershire really is the print capital of the UK.”