DMC Canotec

Date:January 2020
Project:Acquisition Support
Sector:Business Services
Role:Financial analysis and modelling support for the acquisition


Forward support DMC on a hat trick of acquisitions

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


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.


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