Cambridge, UK, 1 July 2019 – Managed-office services suppliers, ASL Group, is accelerating its growth strategy by securing investment from Primary Capital Partners LLP, a leading provider of private equity finance.
The buyout will allow ASL to further acquire businesses, expand its reach and enhance its service for customers.
ASL had been supported by Mobeus Equity Partners since 2010 as a buy-and-build platform, and the privately-owned managed office services company has grown from strength to strength. In November, ASL made its tenth business acquisition when it joined forces with Geerings Digital. It also expanded its reach beyond providing managed print services (MPS) to embrace unified communications, software, IT and production print solutions for its 5,000 national customers.
Managing Director of ASL, Mark Garius, confirmed, “This is an important and significant milestone for ASL that will enable us to continue to grow our business both organically and acquisitively in the market. Having acquired 10 businesses in the last 10 years, we look forward to the new opportunities that the investment will bring as we continue to drive better business performance for our customers.”
Primary, who provide long-term financial resources and strategic support to businesses valued between £20 million and £100 million, specialise in five key market sectors including consumer, leisure, business and support services, IT, media and communications and industrial products and services.
Primary Partner Alec Parkinson said, “ASL is a leading operator in a highly fragmented marketplace. Having first met Mark and Paul several years ago, we continued to track the business and are delighted to now partner with them. Their knowledge of the industry is unparalleled in the UK, and we are excited to work with them and their colleagues to enable the company to accelerate its acquisition strategy and become the pre-eminent independent managed-office services provider.”
Mobeus Portfolio Director Ed Wass, commented, “We are very proud to have worked with this great management team to build such a high-quality business over the investment term. With a number of recent transactions in this sector, private equity is alive to the opportunities for buy-and-build platforms in managed services including printing and related services. We are delighted that, having demonstrated a strong track record in growth through making and successfully integrating acquisitions, ASL now has a new financial backer to support its continued success.”