Just two months after listing, Novus Holdings has made its first acquisition by purchasing full ownership of Cape Town based specialist digital printing house, Digital Print Solutions. The new digital print business offering will form part of the existing print division, Paarl Media.
“We are pleased to announce this acquisition as we begin to implement our growth plans for Novus Holdings that we set out in our pre-listing prospectus,” says Novus Holdings Chief Executive Officer, Stephen van der Walt.
“In our presentations to investors we identified areas of opportunity for strong growth for Novus Holdings in print and related services, and this is one of them. This acquisition brings digital print experience into Novus Holdings, a wide and diverse range of digital print clients, a strong track record of excellence, and the potential for high growth in the future,” says van der Walt.
“The introduction of the digital print division and this acquisition will position the Group to take advantage of the global digital trend and strengthen our print services offering. The growth prospects for this division and as a consequence, the Group, are important,” continues van der Walt.
Christoff Botha, Novus Holdings Group Executive: Heatset Operations, whose portfolio has now expanded to include the new digital offering, says “Digital Print Solutions already enjoys strong support, including ‘on-demand’ book print clients. Our focus however is now on ensuring the company has every opportunity to deliver even stronger performance so we intend to recapitalise the company and take sensible steps to restrict costs and integrate the company by moving its operations into existing Novus Holdings’ premises in Cape Town.”
Digital Print Solutions founder Dion Martin will continue to direct the newly-acquired company’s operations.
According to Martin, “This acquisition is the logical next step in the development of the company. We have been operating since 2002 and have done well in developing a strong client base. That said we are excited to become part of Novus Holdings which, with the financial resources, strong management, and strategic vision of the Group can help us rapidly increase our footprint and expand our client offering. To be at the beginning of Novus Holdings’ digital offering to clients is really an opportunity for all of us at Digital Print Solutions.”