Equistone's Apogee acquires Danwood

The acquisition was preceded by three bolt-ons by Apogee since Equistone's buyout of the company. In October 2016, the company acquired Scotland-based Direct Business Systems, then Irish competitor Hibernian Business Equipment was acquired in November 2016, and one month later the London-based Citydocs Group was bolted on. With the acquisition of Danwood, Apogee's client base will increase to 10,000 retained customers and approximately 8,000 transactional customers.

In September 2016, Equistone invested in Apogee as part of a £185m deal. 

Previous funding
In May 2008, Danwood received a £130m investment from Bregal Capital, which acquired a 30% stake in the company. Bregal acquired a further 10% in September 2010.

Company
Founded in 1971, Danwood is a supplier of office printing equipment and document management for SMEs in the UK and Ireland.

The company is headquartered in Lincoln, employing 1,000 people. Following the acquisition of Danwood, the Apogee group will generate revenues in excess of £250m.

People
Apogee Corporation – Jason Collins (joint CEO); Robin Stanton-Gleaves (joint CEO).
Danwood Group – Wes Mulligan (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Portfolio management
• UK / Ireland
• Support services
• Equistone Partners Europe
• United Kingdom
• Build-up