Thu, 18 Feb 2010 | ADMINISTRATION
Managed services provider Office2office plc (O2O), has purchased the assets and business of the business process outsourcing (BPO) arm belonging to The Print Factory London (1991) Limited and The DSR Group Limited, which have both entered administration.
The administrators Allan Graham and David Standish of KPMG confirmed the sale of the BPO division this week for the sum of £700,000.
O2O is to acquire the following assets from the sale according to its website: "two leasehold properties, certain employees of the BPO business and a wide range of customer relationships and contracts recently generating £20m per year of turnover."
Simon Moate, chief executive of O2O, is eager to merge the bought business with its own BPO operations, and sees the move as a "hugely positive step toward our goal of becoming a true leading player within the BPO sector."
He added: "This acquisition is an important development, broadening our customer base and increasing our market coverage in the sector."
O2O's own BPO operations originated from its £26m acquisition of AccessPlus in 2008.
It had been recently reported that The Print Factory had faced a winding up petition by HM Revenue and Customs over a multi-million pound debt.
Total current liabilities of £19.4m were entered in its last recorded accounts for the year to 30 June 2008 and revenues of over £65m.
This is a unique opportunity to acquire a well-established sheet metal contractor company renowned for its comprehensive expertise in sheet metal work and fabrication.
This thriving business, situated in a bustling trade park in North Essex, specialises in manufacturing high-demand equipment for the health industry.
This hub business in the East of England offers an exceptional opportunity to expand or establish a presence in Suffolk. Its strong market position and impressive track record make it an attractive proposition for strategic buyers.
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