Warakorn - Fotolia
At the start of the year managed print specialist Apogee announced plans to make acquisitions to fuel its growth in 2016 and it continues to deliver on that promise.
The firm, which had been no stranger in previous years to opening the corporate cheque book and adding some talent, has been true to its word and has added another deal to the growing list of transactions sealed over the last eleven months.
Back in January Apogee's joint CEO Jason Collins was very clear about its intentions: “Apogee will continue to grow its UK business in 2016 through organic growth and further acquisitions of organisations in the range of £1million to £50 million turnover."
Since then the firm has broken through the £100m turnover barrier, bought Welsh firm Kon-x in April, secured funding from Equistone Partners Europe in September and last month acquired Scottish print and copy specialist Direct Business Systems.
The DBS deal gave the firm a larger footprint North of the border and it is with geographical expansion in mind that the latest deal to acquire Hibernian Business Equipment gives Apogee a cance to break into Ireland.
A year of expansion
January - At the start of the year Apogee makes it clear it will be making acquisitions
April - the firm expands its Welsh business buying Bangor-based Kon-x
June - Apogee picks up German Canon partner BAS Burosysteme
September - gets a significant investment from Equistone Partners Europe
October - bolsters the Scottish business with the purchase of Direct Business Systems
November - announces the latest deal for Irish print management player Hibernian Business Equipment
Hibernian is a print management player with offices in Limerick, Dublin and Galway and has a strong customer base in the private and public sector.
Following the Apogee acquisition model, which leaves the current management in place to continue to run the operation, Hibernian's founder Gerald Wall will lead the Irish business.
“Apogee already has a number of Irish clients who historically we supported through our mainland-based resources and partners, but through this acquisition we now have a new operational base in Ireland. Hibernian is a really strong, well developed business with great coverage, operations and technical expertise and I’m really pleased that we have completed the acquisition," said Collins.
Hibernian managing director Wall said that being part of a larger group gave it the chance to compete for larger deals.