ASC Investment acquires Canon Business Services

ASC Investment will retain all current employees and bring in a new management team. The companies will continue to operate under the names CBS and CBS Universität.

A source close to the situation told Unquote that the company was unlikely to expand geographically, but would expand its services and would continue to digitalise. ASC was chosen from more than 10 bidders because of its operational team, which matched the company's strategy perfectly, according to the source.

ASC Investment acquired its first company, Czechoslovakia-based Vitrablok, from Seves (an Italian company owned by Triton) in January 2018. The firm operates throughout Europe and specialises in mid-market transactions.

Canon Business Services became part of Canon Deutschland through the acquisition of Océ NV in 2010. It planned to sell the division after the company concluded Canon Business Services was not core to its broader strategy. Canon Deutschland is a division of Canon, which is listed on the New York Stock Exchange.

Company
Canon Deutschland Business Services, including Canon University Services, is Canon's document outsourcing services division in Germany. The company has 300 employees, operates 45 sites across Germany and serves 60 customers. The company offers services including document processing outsourcing, managed cloud services and consulting.

Advisers
Vendor – Bryan Garnier & Co (corporate finance).
Acquirer – Reed Smith (legal).

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• Topics
• Buyouts
• DACH
• Support services
• Reed Smith
• Germany
• Management Buy-in