DMC group announced the acquisitions of Condor Office Solutions, Systems Technology and CSL Business Machines.
The DMC group said it 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 five 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 £65 million ($84 million/€76 million).
In addition to these acquisitions, 2019 saw the Group supplement its Board with the recruitment of Paul Mitchell as Chief Operating Officer having joined from Experian, and Phil Jan as M&A Director having held multiple roles across acquisitive private equity backed businesses.
Each of these most recent 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.
DMC CEO, Simon Davey, said: “Condor, Systems Technology and CSL are exceptional businesses and strongly complement our existing Group. DMC continues to achieve considerable growth and we look forward to taking the business from strength-to-strength with Horizon’s continued investment and support.”
“DMC was the first investment made by Horizon and we are delighted with the tremendous progress to date which is a testament to Simon and the team he has built. We will continue to support DMC in supplementing the organic growth of the business with high-quality acquisitions in what is a highly fragmented market,” said Luke Kingston, Partner at Horizon Capital.
David Bayles, Managing Director at Condor added: “We are delighted to be joining forces with the DMC group – they share our customer-first values and passion for awesome service. They are bringing together the very best MPS companies in the UK and the true nationwide coverage can only be of benefit to our customers.”
“I am delighted to have joined forces with DMC who are a natural fit for our business with a focus on excellent customer service which we can now truly offer on a nationwide basis. As part of this great group this business will continue to thrive,” said Zana Gradus, Managing Director of Systems Technology.
Andy Perkins, Director at CSL said: “DMC has established a fantastic reputation for providing exceptional service alongside transparent and ethical work practices. I am delighted to be working with them.”
