Equistone's Apogee acquires Hibernian

Following the deal, Hibernian managing director and founder Gerald Wall will lead Apogee's Irish operations.

Equistone acquired its stake in Apogee in an expansion deal valuing the business at £185m in September 2016. Equistone partners Steve O'Hare and Andrew Backen took non-executive director roles on the board at Apogee upon completion of the deal.

The acquisition marks the second acquisition made by Apogee since Equistone's initial investment. In October 2016, the business acquired Scottish competitor Direct Business Systems (DBS). 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.

Company
Headquartered in Limerick and founded in 1991, Hibernian specialises in the sale, installation and maintenance of printing devices and networks. The business has additional sites in Dublin and Galway.

People
Equistone Partners Europe – Steve O'Hare (partner).
Apogee Corporation – Jason Collins (joint CEO).

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