I am delighted to have passed the business on to a highly regarded company in the industry. I can’t thank Provantage enough for delivering a deal which was right for us and for the business. The whole team were clearly committed to the process and worked tirelessly to transact a smooth, well-orchestrated deal
Project: CSL Business Machines Limited
Sector: Managed Print Services
Deal Value: Undisclosed
Buyer: DMC Canotec
The Provantage Corporate Finance team are delighted to announce the completion of the sale of CSL Business Machines, a well-established provider of managed print services (MPS) in the East Midlands to DMC Canotec.
CSL, a Konica Minolta Elite partner, has traded for over 50 years. The Leicester based business has a great reputation for its professional and reliable maintenance service, with over 1,700 customers.
DMC Canotec is backed by Horizon Private Equity and have so far completed 5 high-quality MPS acquisitions. This is the first Konica Minolta dealer acquired by the Group and they are looking forward to adding KM to their existing relationships with Canon and Sharp.
Provantage Corporate Finance acted as advisers to the shareholders of CSL and the deal was originated and led by David Browne and Sally Saunders. Knights Plc acted as Legal Advisers to the shareholders led by Martin Smith.
Sally Saunders of Provantage said, “CSL has provided exceptional service to businesses and has an unmatched reputation for MPS in the East Midlands. We are privileged to have had the opportunity to work with the shareholders and deliver a transaction which will benefit all stakeholders”.