Forward continue to support Agilico with number ten

Forward is delighted to continue its relationship with Horizon backed Agilico, supporting the management team on the acquisition of Capital Document Solutions, making it the tenth acquisition since Horizon invested in 2018.

Based in Scotland, Capital Document Solutions is Agilico’s largest acquisition to-date by revenue, headcount, and machines in the field (MiF).

This latest acquisition significantly expands the group’s capabilities across the UK; increases MiF to over 40,000; and expands the customer base to 13,000 largely SME customers. Agilico’s Agile Print division is now the largest independent MPS business in the UK, a feat achieved over four years under CEO, Simon Davey.

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: “The Forward team have been on this journey with us over the last four years, and it has been great to have them involved again on this transaction to pull together the financial information we need to make our early assessments, and to support our due diligence.”

Forward Corporate Finance Director, Sarah Moores, commented, “It was a pleasure to work with the Agilico team again on this acquisition. With Horizon’s backing Simon and his team have built a leading national provider of workplace technology to the SME community, a journey which I am sure will continue.”

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