Equistone-backed Apogee strengthens European presence with second acquisition in Germany
Apogee Corporation Ltd (“Apogee”), a leading independent provider of print and document technology services backed by Equistone Partners Europe (“Equistone”), has completed the acquisition of Kopiervertrieb Rhein-Ruhr GmbH (“KRR”), an independent managed print service and IT service provider based in Oberhausen, Germany. The deal represents Apogee’s fifth substantial bolt-on acquisition since Equistone invested in the business in September 2016.
KRR is a managed print service provider of multiple manufacturer brands of multifunctional devices and print management software solutions. On-site and remote managed services are delivered through its in-house technical operation, which also supports clients across their entire network infrastructure from workstation PCs to Windows servers, NAS systems and archiving systems. KRR also provides financing and leasing solutions.
Founded by Managing Director Bernd Ruse, Andrea Land, Silke Püschel and Head of Sales Frank Tilli in 2012, KRR has grown rapidly and is projected to generate revenues in excess of €4m in 2017. From its offices in the heart of western Germany, KRR has secured a number of nationwide commercial and public-sector clients based in the region. The recent award of the supplier contracts for three of Germany’s farmer co-operatives will accelerate this growth.
Jason Collins, Joint CEO of Apogee, said: “The acquisition of KRR is a key part of the group’s strategy of expansion in Germany. We already have an operation to the north in Hanover and KRR is ideally located in western Germany. Together as part of the Apogee Group they will give us great coverage in Germany and a strong hub from which we can continue to grow our operations across Europe. We have been impressed with what the management team at KRR have achieved; Bernd and Frank’s leadership and the operation they have built have won many significant new business clients in a short space of time and I am looking forward to continuing that growth as part of the Apogee Group.”
Bernd Ruse, Managing Director of KRR, commented: “This is a very exciting time for all of us at KRR. I’m very proud of what we have achieved since we started the business. Now as we win larger and larger contracts, the support, expertise and sheer scale of resources that are available within Apogee will make a massive difference, helping us deliver a great experience to our clients and continue to grow the business across Germany. I’m looking forward to winning new business as part of the Apogee Group.”
With Equistone’s support, Apogee will continue its organic and acquisitive growth strategy. The company plans to make further strategic acquisitions to drive growth in the UK and Europe, having already acquired Direct Business Systems, Hibernian Business Equipment Limited, CityDocs, Danwood and now KRR in the year since Equistone’s investment.
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