Am­bi­tious firm agrees sec­ond takeover deal in 12 months

New owner out­lines vi­sion to dou­ble staff and turnover in up to three years

The Peterborough Evening Telegraph - - Business Telegraph - By Paul Grinell paul.grin­ Twit­ter: @PTPaulGrin­nell

An ex­pand­ing of­fice sup­plies com­pany in Pe­ter­bor­ough has just com­pleted the ac­qui­si­tion of its sec­ond city-based busi­ness in a year. The Ethos Group, which has of­fices in Royce Road, has bought Sup­plies Di­rect, in the Metro Cen­tre, Wel­beck Way, which was founded 19 years ago and has about 20 staff.

Of­fice Sup­plies has about 650cus­tom­er­sacross­theEast Mid­lands and East Anglia.

Its cur­rent premises will close and staff will trans­fer to Royce Road.

The deal comes 12 months af­ter Ethos ac­quired of­fice de­sign and sup­plies com­pany Wal­ters, of RoyceRoad, which was set up 56 years ago by Pe­ter­bor­ough busi­ness­man Mike Wal­ters.

Paul Nor­ris, Ethos man­ag­ing di­rec­tor, said: “This new ac­qui­si­tion will en­able us to more fully utilise Wal­ters’ ex­ten­sive in­fra­struc­ture to sub­stan­tially in­crease our busi­ness and ca­pa­bil­ity through­outt­heareawherewe are nowthe­largest in­de­pen­dent sup­plier.”

The ac­qui­si­tion will in­creaseEthos’an­nu­al­rev­enues by £2 mil­lion and its EBITDA by a fur­ther £500,000.

The ac­qui­si­tions en­hance therange­of­ser­vice­sand­prod­ucts of­fered by Ethos, which has at­tracted new cus­tomers in Pe­ter­bor­ough, such as Trav­elex, BauerMe­di­aandthe RNIB.

The deal is the lat­est stage i n an am­bi­tious drive for growth by Ethos.

Tony Col­lard, di­rec­tor, said: “Over the next two to three years we are look­ing to dou­ble the size of the busi­ness.”

Headded:“We­hopeturnover will reach £10 mil­lion and that the num­ber of staff will reach 70.”

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.