Business By Technology acquires rival with Clydesdale and Yorkshire Bank support

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30/10/2018

Leading print services company, Business by Technology (BBT), has announced the acquisition of one of Britain’s largest independent suppliers of copier and printer technologies, having received a £7.4 million funding package from Clydesdale and Yorkshire Banks. The finance will support BBT’s five year strategy to become a £20 million turnover company.

BBT has acquired Northamptonshire company Technocopy Solutions, a transformational deal which has provided their business with a significant number of new customers, adding to their revenue streams and consolidating their position within the market.

With over 20 years of experience in this specialist sector, BBT sells and maintains multifunction printers for its customer base across central and eastern England. It has achieved consistent profit growth and developed a national presence, with offices in Manchester, Coventry and East Anglia.

BBT is no stranger to M&A. The business has been acquiring competitors across the market as it expands and grows in stature. In 2016, it completed the major acquisition of Eastern Business Systems for £4.4 million, giving the business increased scale and market share to build upon.

BBT founder and owner Phil Runciman said: “Clydesdale and Yorkshire Banks came up with an innovative opportunity, which other banks just couldn’t compete with. They invested a great deal of time in really understanding the business, were open and transparent throughout the process and delivered the deal at the pre-agreed terms.”

Ian Fairclough, Senior Director of Corporate and Structured Finance at Clydesdale and Yorkshire Banks added: “We're very pleased to have supported the team at Business by Technology. It's an exciting time for the business and we're thrilled to be able to be involved in its growth and development. We pride ourselves in fully understanding our customers businesses and their objectives to ensure we offer a flexible solution that meets their financing needs.”

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