DCC buys UK office supplies firm

Business support services group DCC this morning said it had acquired UK-based electronic office supplies distributor Advent.

Advent, based in Elland, near Leeds, has 111 employees and distributes consumables including inkjet and laser print cartridges from suppliers such as Brother, Canon, Dell, Epson, Konica Minolta, Lexmark and Samsung.

“Advent is highly complementary to DCC SerCom’s Reseller distribution business in the UK in terms of product range and customer base," Tommy Breen, Chief Executive of DCC plc, said.

"This acquisition will significantly strengthen DCC’s market position in the electronic office supplies market.”

DCC is to pay an initial €11.9m in cash for 70% of Advent's equity value, with further cash consideration up to a maximum of €17.5m based on the trading results for the three periods ending 31 March 2012, 2013 and 2014.