Equistone's Apogee bolts on Direct Business Systems

Kenny Wastell
26 October 2016

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Equistone Partners Europe-backed digital printing company Apogee Corporation has bolted on Scottish competitor Direct Business Systems (DBS).

The deal marks the first acquisition since Equistone led a growth capital deal for Apogee less than two months ago. Prior to the GP's investment, the company acquired Bangor-headquartered Kon-x Wales in April 2016 and German business BAS Burosysteme two months later.

At the time of Equistone's initial investment, which gave the business a valuation of £185m, the GP said the company would undertake an international buy-and-build strategy.

Following the latest transaction, DBS will be fully integrated into the wider Apogee group, while its directors Eric Chambers and Anne Chambers will continue to lead the existing team.

Company
Founded in 1995 and headquartered in Glasgow, DBS specialises in the sale and maintenance of printing devices and networks. Its clients include distiller Whyte & Mackay, charity Sense Scotland and logistics company the Malcolm Group.

People
Direct Business Systems – Eric Chambers, Anne Chambers (directors).
Apogee Corporation – Jason Collins, Robin Stanton-Gleaves (CEOs).