Tenth acquisition sees office supplies firm hit £50m
A 10th acquisition of the year has resulted in Complete Office Solutions achieve its target of a £50m run rate.
The Wakefield-headquartered group has bought WMS Office and WMS Interiors in Surrey for an undisclosed sum in a deal which adds £5m of annual revenues to the group and increases its coverage in the south of England.
Further acquisitions are being targeted as it aims for a £100m run rate by the end of next yeat.
Richard Coulson, chief executive of Complete Office Solutions, said: “We are about to embark on the most exciting phase in our development, with the deals we have agreed and the team we have built we are confident of taking revenues above £100m in 2016 and deliver very healthy profits.”
Complete Office Solutions generated sales of £27.3m in 2014, and has been pursuing acquisitions to grow rapidly.
Three deals in the first half of the year added annual revenues of £7.5m, while a further five which completed in September added a further £7m. The purchase of Sheffield office equipment supplier RA Roberts earlier this month and the WMS deal takes its run rate above £50m.
Mr Coulson added: “I’m extremely pleased with the progress we are making and with our transition into managed services. We are very focused on growing the company nationally and across our portfolio of products and services. We are close to announcing acquisitions in the IT services sector, the vending sector and within other key strategic regions throughout the UK.”
