Print services firm sold to private equity-backed counterpart

A Leicester-based print services firm has been sold to a private equity-back counterpart.

DMC Canotec, which has its headquarters in Croydon, has snapped up CSL Business Machines.

CSL, a Konica Minolta Elite partner, has traded for over 50 years and has over 1,700 customers.

DMC Canotec is backed by Horizon Private Equity and has completed five acquisitions.

Provantage Corporate Finance acted as advisers to the shareholders of CSL and the deal was originated and led by David Browne and Sally Saunders. Knights acted as legal advisers to the shareholders led by Martin Smith.

Saunders said: “CSL has provided exceptional service to businesses and has an unmatched reputation for MPS in the East Midlands. We are privileged to have had the opportunity to work with the shareholders and deliver a transaction which will benefit all stakeholders.”

Michael Mathias, joint managing director of CSL, said: “I am delighted to have passed the business on to a highly regarded company in the industry. I can’t thank Provantage enough for delivering a deal which was right for us and for the business. The whole team were clearly committed to the process and worked tirelessly to transact a smooth, well-orchestrated deal.”