Acquisition saves more than 600 jobs following weeks of uncertainty
EVO has confirmed its acquisition of Complete Business Solutions (CBS), which is a Yorkshire-based provider of business supplies and services.
The trade and assets of CBS have been acquired through a pre-pack administration by EVO – a major multi-channel business supplies and service distributor.
Over several weeks during the Christmas period, the EVO and CBS teams worked together to deliver the transaction. EVO says the outcome ensures the survival of CBS and secures jobs for all its employees across the UK.
With over £100m sales in 2022, CBS is one of the UK’s largest providers of workplace supplies and associated services, including: general stationery and office supplies, IT and tech support, photocopier and printing supplies, workspace equipment and installation, PPE and workwear.
The business is headquartered in Wakefield and operates through 18 regional distribution hubs across the UK, employing a total of 632 people. The company has grown rapidly in recent years but was hit hard by the pandemic.
Andrew Gale, CEO of EVO, said: “We are pleased to end the uncertainty and bring CBS into the EVO family, which we believe is the best outcome for all.
“This was very much a team effort, and I am grateful and indeed very proud of the EVO team, our shareholder, Endless, and our banking partners, Breal Zeta and Leumi ABL, who have worked tirelessly to ensure this acquisition was concluded as quickly as possible.
“CBS is a great addition to the EVO group of companies and will operate as a stand-alone business.
“Our priority over the coming weeks is to restore stability and confidence for the CBS employees and most importantly maintain excellent service to the CBS customers.”
Tim Vance, joint administrator at EY Parthenon, added: “We are pleased to announce the preservation of the entire business following its sale to EVO, along with the retention of all employees.”
