Forward support DMC on acquisition number seven

Forward is delighted to continue its relationship with Horizon backed, DMC group, supporting the management team on the acquisition of Artel, making it the seventh acquisition since Horizon invested in the business in 2018.

Artel was established in 1985 and is headquartered in Slough. The business serves over 500 customers principally in the Thames Valley region and across several key sectors including healthcare, education and legal. The acquisition further strengthens DMC’s southern region following the acquisitions of Condor Office Solutions and Systems Technology in December 2019.

Forward provided financial support to the DMC group on the transaction. This included working closely with the Artel owners to collate financial data, assess historical performance and KPIs, and build a fully integrated financial model to feed into the due diligence process.

Commenting on the transaction Phil Jan, DMC Group CFO said: “We have a great working relationship with Forward. They work closely with the owners of the businesses we are acquiring, to pull together all the financial information we need. Their work not only gives us a heads up before we start due diligence, but also gives the due diligence teams a detailed pack of well prepared information to work with.”

Forward Corporate Finance Director, Sarah Moores, commented, “Artel is another great acquisition for the DMC team. We are delighted to be able to continue supporting them as they grow.”

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