£50m-plus revenue print specialist created following acquisition
DMC Canotec makes fifth acquisition in six years
Managed print specialist DMC Canotec has acquired United Carlton, creating a £50m-plus revenue print player.
Croydon-based DMC Canotec said the merger will give the combined firm a greater presence in the north, with United Carlton bringing offices in Gateshead, York and Warrington.
The acquisition is DMC Canotec's fifth in six years and part of an aggressive M&A strategy, which was bolstered when the firm took on investment from private equity firm Horizon last year.
DMC Canotec CEO Simon Davey said: "We agreed a clear acquisition strategy with our investors, Horizon Capital, and that was to buy first-class companies with long-standing reputations for quality service.
"The acquisition of United Carlton brings with it great staff, products and customers, and together we will develop a single platform that will enable all stakeholders to thrive."
The newly combined company will employ 250 staff, with 4,500 customers.
DMC Canotec was ranked ninth in CRN's Print Provider Report ( available exclusively to CRN Essential subscribers), with sales of £38.7m for the year ending 31 March 2018.
The firm was founded when DMC merged with Canotec in 2013.
United Carlton, meanwhile, was ranked 26th with sales of £16.5m for the year ending 30 June 2018.
Luke Kingston, partner at DMC investor Horizon Capital, said: "We are delighted to support DMC Canotec in integrating United Carlton in the group to form a rare asset of scale in the sector, with group revenues more than doubling from the time of our original investment.
"We will continue to support Simon and his team in supplementing the organic growth of the business with high-quality acquisitions in what is a highly fragmented market."