£5m-turnover document solutions provider acquires counterpart firm
A York-based provider of Xerox Photocopiers and Printers, Xerox Services and document related business solutions, has acquired a counterpart firm based in Rochdale.
Document Logic, which has an annual turnover of £5m, completed the acquisition of Document XL for an undisclosed sum.
Aiming to become one of the largest suppliers in the region, Document Logic said the deal “will only serve to bring greater customer service levels and a wider breadth of services available to a wider audience.”
The Corporate Finance team of Chartered Accountants, Garbutt + Elliott, advised Document Logic on the funding and acquisition of Document XL.
Lead by partner, Tony Farmer, the Garbutt + Elliott team worked with Simon Wood, managing director at Document Logic, to negotiate the transaction and provide due diligence and financial forecast support.
Wood said: “Following the acquisition of Barrett Business Machines in Huddersfield in January 2018, this is the perfect next step, and progression in the growth of Document Logic. In terms of the geography it is ideal and gives us a new office and customer base in the Manchester area, giving us offices right across the North, but as Document XL are also a Xerox reseller, bringing Document XL on board, is the perfect fit for our current Xerox business model.”
Farmer added: “We have been delighted to be a part of this deal and to help Simon continue the growth of what is already a leading business. We look forward to seeing Document Logic’s presence increase, both within the Yorkshire region and beyond.”
For all legal elements pertaining to the deal, Garbutt + Elliott worked with solicitor Philip Downing at Downing Legal.
