Apogee has snapped up document technology and managed print services provider Danwood. The combined company creates one of the largest European players in its field of operations with Group annual revenues propelled to over £250m. The deal boosts Apogee's client base with the addition of over 10,000 retained customers and approximately 8,000 transactional customers.
The existing Apogee Board of Directors, led by Joint CEOs Jason Collins and Robin Stanton-Gleaves, will continue to manage the Group following the acquisition.
Collins commented: "This significant acquisition for Apogee provides us with the scale and reach to be a leading player in the European market for managed print services.
"Danwood has strengths that complement Apogee's offering and strategy, including a large client base of major corporate businesses, government and public sector organisations, and a strong service network that will increase the Group's coverage and capacity to support its clients across the UK and continental Europe."
This is Apogee's fourth and largest acquisition since it secured a significant investment from Equistone Partners Europe, a pan-European, mid-market investor, in September 2016.
Additional strategic acquisitions completed by the Group in the past six months include the purchase of Direct Business Systems, an independent provider of multi-functional copiers, printers, scanners and support services based in Glasgow (October 2016); Hibernian Business Equipment Limited, one of Ireland's main print management and managed print services providers (November 2016), and CityDocs, a document outsource provider (December 2016).
Apogee has said it will continue to make further strategic acquisitions to drive its growth in the UK and continental Europe.
most popular industry news
'Examples of success in the industry are typically male. As an industry we need to address this imbalance, to share and embrace a different success model that women can bring. The question is - how do we break the mould?'
Elsa Chen, CEO, Entanet