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It has not taken too long for managed print specialist Apogee to use the funding it recently secured to make a acquisition and expand its coverage of the UK market.
At the start of last month Equistone Partners Europe valued Apogee at £185m. The firm usualllly invests between €25m and €125m on businesses that are valued up to €300m.
At the time it was made clear that the investment would be used to grow the business here and overseas and will provide the firm with a warchest for acquisitions.
Just weeks later and that archest has been opened and the firm has picked up Scottish print and copy specialist Direct Business Systems (DBS).
Thew firm has been going for 21 years and the current directors Eric Chambers and Anne Chambers will continue to run the business out of Glasgow.
DBS handles multi-function copiers, printers, scarers and support services and has a customer base that includes some of the leading names in Scottish business, including distillers Whyte&Mackay.
Jason Collins, Apogee joint CEO, said that expanding its operations North of the border had been one of the priorities for this year.
“I’m really delighted we have completed the DBS acquisition and achieved this goal. The reputation DBS has is phenomenal, Eric and Anne have built a business with true customer vision and great service support,,” he said.
Eric Chambers, managing director of DBS who alongside his wife and fellow Director Anne set the business up back in 1995, said that it viewed the Apogee acquisition as the next stage in its development.
“As part of the Apogee Group we will be able to help our customers embrace the benefits of more advanced document and process technology, the portfolio and specialist resources Apogee has in-house is impressive,” he said.
Apogee seems to like inking deals at this time of year as it also acquired Midlands based Positive Digital Solutions in October 2014.