Integra Office Solutions Ltd based in Newport is a leading buying group in the UK’s office and IT supplies sector.
Integra announced that on 16th October 2015 it was successful in purchasing 100% of the group’s share capital from independent investor, Hemel Holdings Ltd.
Following the deal the business will revert to a co-operative model focused on the needs of the independent dealer and the group’s industry partners together with ensuring the long term future of the group is protected.
Development Bank of Wales and Barclays joined forces to back the management buy-out. and Greenaway Scott advised Integra on the transaction.
The Integra Board and Management team’s primary focus will be to further strengthen the group’s position as the leading dealer group in the industry. Delivering excellent support and services for the benefit of members and key partners will remain the core driving force for the group.
Aidan McDonough, Integra’s Managing Director, comments “This agreement not only allows us to protect our member’s best interests but also to continue our focused approach to growth and the further development of services and solutions to benefit the independent dealer and our industry partners.”
Stephen Galvin, Senior Investment Executive at Development Bank of Wales who led the deal commented: “Integra’s management team are an experienced team who’ve been keen to buy the business for some time and they’d put a plan in place to make their ambition a reality.
They were well-prepared and we were able to complete the sale in 5 weeks.
“Development Bank of WalesFinance Wales was delighted to work with Barclays to come up with a funding package to back the team. It’s an established market leading company with significant future potential that’s ready for its next growth phase. We wish the team well with their plans.”
Jason Llewellyn, Relationship Director for Barclays introduced the company to Development Bank of Wales said, “By working closely and really understanding the business, Barclays has been able to support Integra throughout its latest development. We have established a strong relationship with Integra’s management team over recent years and have every confidence in their ability to deliver continued growth.”
Nigel Greenaway, Corporate Director for Greenaway Scott commented “We were pleased to advise on this acquisition and to be able to help secure the future of the group’s long term future developments”.
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