Apogee Corporation Ltd (“Apogee” or “the Group”) today announces its acquisition of Danwood, the UK’s largest independent provider of document technology and managed print services, for an undisclosed sum. The addition of Danwood to the Apogee Group will create Europe’s largest independent provider of managed services for print, document and process technology. 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.
Danwood is a leading provider of office technology to SMEs, and the corporate and public sectors in the UK and Ireland. The purchase will significantly enhance Apogee’s client base with the addition of over 10,000 retained customers and approximately 8,000 transactional customers. Furthermore, it will enhance the service already provided to Apogee’s client base with the addition of a strong service network that supports hardware and software from multiple, best-in-class manufacturers including Kyocera, Xerox, HP, Samsung and Sharp, many of whom are also existing supplier partners of Apogee. The acquisition increases the Group’s annual revenues to over £250m run rate.
Jason Collins, Joint CEO of Apogee Corporation, 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 terrific 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.”
Robin Stanton-Gleaves, Joint CEO of Apogee Corporation, said: “Apogee is dedicated to providing its customers with best-in-class, pro-active managed services and advanced workflow solutions. This offering, which has driven Apogee’s reputation as the first choice provider for multi-vendor print technology and service, has been a key driver of our recent strategic decisions. Having created Europe’s largest service provider with the addition of Danwood to the Group, we look forward to further extending our leadership in pro-active managed services and advanced workflow solutions.”
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 acquisitions of Direct Business Systems, a leading independent provider of multi-functional copiers, printers, scanners and support services based in Glasgow (October 2016), Hibernian Business Equipment Limited, one of Ireland’s leading print management and managed print services providers (November 2016), and CityDocs, the specialist document outsource provider (December 2016). Following the acquisition of Danwood, Apogee will continue to make further strategic acquisitions to drive its growth in the UK and Continental Europe.