07 July 2019 Business

ASL to accelerate growth after MBO

Equipment and printer services supplier ASL will continue its acquisition led growth as it expands into production print areas.

Mark Garius and Paul Derry have led a management buyout of equipment supplier ASL backed by Primary Capital Partners.

The company has been expanding through acquisition under managing director Garius, who says: “This is an important and significant milestone for ASL that will enable us to continue to grow our business both organically and acquisitively in the market. Having acquired ten businesses in the last ten years, we look forward to the new opportunities that the investment will bring as we continue to drive better business performance for our customers.”

The most recent of these was Geerings Digital in November. Each has added a slew of customers. It now provide services to 5,000 customers across the country, and increasing it is moving into production print.

ASL supplies printers from Ricoh, Konica Minolta, Canon, Kyocera, Xerox, Riso and Intec in the commercial print arena. It employs 158 from nine locations with a head office in Peterborough.

The deal has allowed Mobeus Equity Partners to bow out after nine years supporting the buy and build strategy. This has latterly seen the company expand beyond office equipment into IT, software, communications and now production print.

Mobeus director Ed Wass says: “Private equity is alive to the opportunities for buy-and-build platforms in managed services including printing and related services. We are delighted that, having demonstrated a strong track record in growth through making and successfully integrating acquisitions, ASL now has a new financial backer to support its continued success.”

ASL was formed in 1991 with various and Derry joining the business in 2009. It has always remained supplier agnostic allowing it to make fair recommendations to customers.

For Primary, partner Alec Parkinson says: “ASL is a leading operator in a highly fragmented marketplace. Having first met Mark and Paul several years ago, we continued to track the business and are delighted to now partner with them.

"Their knowledge of the industry is unparalleled in the UK, and we are excited to work with them and their colleagues to enable the company to accelerate its acquisition strategy and become the pre-eminent independent managed office services provider.”

The challenge now is to accelerate the pace of growth through spreading into new areas and expanding in the relatively under developed office services sector. Thus the acquisitions will continue as will creation of additional complementary services.

By Gareth Ward

« »

ASL has remained supplier agnostic while building a network of office equipment suppliers and is taking the same approach into production print. The portfolio incluces machines from Ricoh, Xerox, Konica Minolta, Canon, Kyocera, Riso and Intec.

Explore more...

ASL buys Geerings supplies business

ASL Group home