Equistone's Apogee bolts on Citydocs

The acquisition marks the third bolt-on made by Apogee since Equistone's initial investment. In October 2016, the business acquired Scottish competitor Direct Business Systems, before bolting on Irish competitor Hibernian Business Equipment the following month.

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.

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.

Company
Headquartered in London and founded in 1999, Citydocs provides reprographic services to the legal industry, as well as digital scanning, processing and hosting. The company has additional operations in Manchester and also owns the Willow Graphics brand, which is a digital graphic design business.

People
Equistone Partners Europe – Steve O'Hare (partner).
Citydocs - Peter Lawson (managing director).
Apogee Corporation – Jason Collins (joint CEO).

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