Tue, 07 Jun 2011 | DIVISION SALE
Packaging supplier DS Smith is rumoured to be gearing up to sell off Spicers, its office stationery supplier business, for around £150 million. News has surfaced that the investment bank Lazard has been drafted in to lead the sale.
Spicers, which supplies stationery and office equipment, has attracted the attention of both trade peers and private equity investors.
Miles Roberts, DS Smith’s chief executive, revealed plans to streamline the company in the winter last year, and was reported as saying Spicers “doesn’t have any synergy with the rest of the group”, and that options for it would be considered “in due course”.
It is understood that Mr Roberts wants to refocus the company’s efforts on expanding its recycling operations. With 12,000 staff, it is already Britain’s largest recycler of cardboard and paper.
Spicers' sales figure of £700 million represents about a third of DS Smith's total turnover. It is said to be a low-growth business however.
Spicers and DS Smith would not comment on the potential sale. A final decision to sell has not yet been made by the group.
The company offers an aluminium design, fabrication and installation service, specialising in aluminium windows, doors and curtain walling systems. The company works closely with a number of prestigious suppliers and subcontractors in order to provid...
The company provides a diverse range of solutions to clients across the healthcare sector, including temporary staffing, supported living, and complex care. To complement its core services, the business has developed its own app, enabling healthcare...
The company offers the hire of a wide range of high-quality, modern plant, access, and tools regionally. Priding itself on its outstanding customer service and large, loyal client base, the company also provides training for IPAF courses through an e...
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.