UK’s independent managed print services business Agilico has closed the sale of Edinburgh-based Capital Document Solutions.
The deal means that the outfit will increase its machines in field to over 40,000 and expand its customer base to over 13,000.
The deal comes just five months after the death of Capital Document Solutions MD Tom Flockhart – who founded the company in 1979.
Agilico’s last filed annual accounts, covering the year to 31 March 2021, showed flat revenues of £41.6 million and 30,000 machines in field.
Capital Document Solutions revenues virtually halved to £11.2 million in its fiscal 2021 as COVID-19 hit its core business.
Agilico CEO Simon Davey revealed that he had spent two years working with Flockhart on the deal “to make sure every aspect of it was carefully considered”.
“Though [Tom] very sadly lost his battle against cancer before we managed to complete, I know he would be immensely proud of his Board of Directors and family for honouring his wishes to become part of the Agilico group”, Davey said.
