A Cardiff-based office supplies company has made a major acquisition in a bid to grow its turnover and expand its services into Cornwall and Plymouth.
SET Office Supplies is expecting to record a £25 million turnover this year following the acquisition of the Martin Luck Group, which it purchased out of administration.
The office supplies firm is now utilising its acquisition – the biggest that the company has made to date – to further its organic growth. It is already Wales' largest independent office supplies firm, expanding rapidly since its opening in 1974 and selling a range of office supplies from its offices across Swansea, Cardiff, Bristol, Haverfordwest, Cornwall and Plymouth.
Staff numbers now stand at 237 following the acquisition, which secured 64 jobs in the South West of the country.
Neil Griffiths, SET’s managing director, said, “Most of our growth has been organic and this is the first time we’ve acquired a business of a significant size. We previously bought a company in Bristol that was doing £180,000 a year and it is now doing £4m-plus.
“Profits made by the business are reinvested in the business for future growth and to make us financially secure for the next 20 years. We are looking at organic growth over the next two to three years unless something comes along that’s a perfect fit for us,” he added.
Prior to its administration, the Martin Luck Group had a turnover of £7 million.
This unique business excels in the import and distribution of hairpieces across diverse sales channels, boasting a vast product range designed to look natural for all customer segments. With strong supplier relationships and a multifaceted sales stra...
This established business is a leading provider of customised boiler analysis systems, boasting strong, long-term relationships with prestigious clients in the power, refinery, and defence sectors. With a talented team and a solid presence in interna...
This business offers a strategic position as a UK agent for a renowned recycling machinery manufacturer, serving a robust client base that includes international blue-chip organisations. With opportunities for expansion into new sectors and a fully r...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.