Equistone invests in Apogee

The amount invested by Equistone is undisclosed, though the firm writes equity cheques of €25-125m.

Following the deal, the company will undertake an acquisitive growth strategy and will also look to expand internationally.

Equistone partners Steve O'Hare and Andrew Backen will take non-executive director roles on the board at Apogee upon completion of the deal.

Apogee previously received private equity backing when LMS Capital acquired a minority shareholding in the business for £7.9m in 2010, but divested its stake two years later. The GP generated a 2.1x return, according to unquote" data.

Company
Founded in 1993 and headquartered in Maidstone, Apogee specialises in the sale and maintenance of printing devices and networks. The business has a headcount of 450 across 12 UK locations and additional offices in Paris and Hanover.

People
Equistone Partners Europe – Steve O'Hare (partner).
Apogee Corporation – Jason Collins, Robin Stanton-Gleaves (CEOs).

Advisers
Equity – Deloitte, Andy Westbrook, Olly Tebbutt (corporate finance); Pinsent Masons, Andy Phillips (legal).
Vendor – Rothschild, Tim Morris (corporate finance).

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• Topics
• Expansion
• UK / Ireland
• Support services
• United Kingdom
• Equistone Partners Europe