Forward support DMC on hat trick of acquisitions

Forward is delighted to have supported the management team of the DMC group on the acquisitions of Condor Office Solutions, Systems Technology, and CSL Business Machines.

Having initially worked with Horizon on the acquisition of DMC, and subsequently supported DMC on the acquisition of United Carlton, this continues a successful client relationship for Forward.

Each of the acquisitions are long established and highly regarded operators – both Condor and Systems Technology are southern based Canon Platinum partners, and CSL is a Konica Minolta Elite partner serving customers across the midlands.

The DMC group has a clear strategy to consolidate the fragmented MPS sector with high quality acquisitions and create a market-leading managed services provider. Horizon Capital first invested in DMC in July 2018 and since then the Group has made 5 acquisitions, diversified its offering and expanded its geographic reach across England. The Group now supports more than 10,000 customers across the UK and generates revenues of £65m.

Forward provided financial support to the DMC group on the transaction. This included working closely with the three target companies to collate financial data, assess historical performance and KPIs, and build a fully integrated financial model for each. In addition, Forward assisted the DMC group CFO in combining the businesses into the group financial model to review group forecasts and bank covenants.

Commenting on the transaction Simon Davey, DMC CEO said: “Once again Sarah at Forward proved to be an invaluable part of our advisory team – the transactions were run simultaneously and required lots of very long hours and constant attention to detail. Sarah did a fantastic job.”

Forward Corporate Finance Director, Sarah Moores, commented, “It has been a pleasure to continue the relationship with the DMC team, and we wish them every success as they continue to grow the business.”

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Acquisition Support

The right strategic acquisition, well planned and well executed, can be an excellent way to make a step change towards growing your business. Organic growth is tough. However, an acquisition in the UK or abroad is no magic bullet either and needs to be carefully planned, executed and integrated.

Private Equity Transactions

The mention of private equity often scares people off, but it covers a whole range of investor types, and is often mis-represented in the media. Private equity is often synonymous with taking advantage of distressed companies, or with highly leveraged buy outs. But there is another side.