Tuesday, August 11, 2020

East Midlands managed print services provider sold

CSL Business Machines, a provider of managed print services (MPS) in the East Midlands, has been sold to DMC Canotec.

CSL, a Konica Minolta Elite partner, has traded for over 50 years. The Leicester based business has 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”.

Michael Mathias, Joint Managing Director, CSL, said: “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 the business.”

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