Print services specialist targets growth after acquisition

Salford Quays print services company, Business by Technology (BBT), has announced the acquisition of one of Britain’s largest independent suppliers of copier and printer technologies, having received a £7.4m funding package from Clydesdale and Yorkshire Banks.

The finance will support BBT’s five-year strategy to become a £20m turnover company.

BBT has acquired Northamptonshire company Technocopy Solutions, a transformational deal which has provided the business with a significant number of new customers, adding to its revenue streams and consolidating its position within the market.

With more than 20 years of experience in this specialist sector, BBT sells and maintains multi-function printers for its customer base across central and Eastern England.

It has achieved consistent profit growth and developed a national presence, with offices in Manchester, Coventry and East Anglia.

In 2016, it completed the major acquisition of Eastern Business Systems for £4.4m, providing BBT with increased scale and market share to build upon.

BBT founder and owner Phil Runciman said: “Clydesdale and Yorkshire Banks came up with an innovative opportunity, which other banks just couldn’t compete with.

“They invested a great deal of time in really understanding the business, were open and transparent throughout the process and delivered the deal at the pre-agreed terms.”

Ian Fairclough, senior director of corporate and structured finance at Clydesdale and Yorkshire Banks, added: “We’re very pleased to have supported the team at Business by Technology.

“It’s an exciting time for the business and we’re thrilled to be able to be involved in its growth and development.

“We pride ourselves in fully understanding our customers’ businesses and their objectives to ensure we offer a flexible solution that meets their financing needs.”

BBT were advised by Nic Hanlon, from Hanlon Corporate Advisory, who assisted with both the debt raise and the acquisition.

James Dyson, of Freeths, Birmingham, acted for CYBG and Edward Barnes, from DTM, acted for BBT.