Yorkshire Bank funding secures buyout firm’s latest acquisition

SMALL buyout specialist Matrix Private Equity Partners has invested £4.25m in the management buyout of Automated Systems Group (ASL), a provider of reprographic and print solutions to SMEs and the education sector, after securing funding from Yorkshire Bank.

Yorkshire Bank Corporate & Structured Finance in Leeds provided a £3.5m debt package for Matrix, which is taking a significant minority stake in the business.

Based in Cambridge, ASL was established in 1991 and has developed a strong presence providing printing and copier services to schools and SMEs primarily in East Anglia, London, Essex and the Midlands.

The company employs 70 staff and supplies the latest printing hardware technology and ongoing service and maintenance services to more than 4,000 customers.

Mike Selina, director with Yorkshire Bank Corporate & Structured Finance in Leeds led the team with Seth Vaughan, associate director.

Mr Selina said: “ASL is a prime example of a good business coming to market and attracting the support of both private equity and bank funding. The nature of ASL’s business provides it with a robust cash flow and it has the support of a loyal, well spread customer base that rates the service it provides highly.

“In Matrix we have a partner with the ambition and ability to support the growth of the business organically and via acquisition.”