Forward continue to support Agilico with number eight

Forward is delighted to continue its relationship with Horizon backed Agilico, supporting the management team on the acquisition of the Diamond Group, making it the eighth acquisition since Horizon invested in the business in 2018.

Diamond was established in 1992 and is headquartered in Gateshead. The business supports SME organisations with a range of workplace solutions including Telecoms, IT and Managed Print Services.

Following their rebrand in April, Agilico continue to build a national provider of workplace technology and expertise, trusted by more than 11,000 customers across the UK. This acquisition further strengthens Agilico’s northern region, headed up by Regional Managing Director, Warren Colby, adding a further £2m of high-quality revenues and over 500 valued customers.

Forward provided financial support to Agilico on the transaction, collating financial data, assessing historical performance and KPIs, and building a fully integrated financial model to feed into the due diligence process.

Commenting on the transaction Phil Jan, Agilico CFO said: “As this is our eighth acquisition we have built a trusted team of advisors. Forward are a key part of that team, working closely with the owners of the businesses we are acquiring to pull together all the financial information we need to make our early assessments, and to prepare for due diligence.”

Forward Corporate Finance Director, Sarah Moores, commented, “It was a pleasure to work with the Agilico team again on this acquisition. New name, but the same focus on acquiring quality businesses to enhance their national footprint and range of services.”