PRIVATE equity group Endless Capital yesterday agreed to buy listed stationary-to-furniture office supplier office2office through a newly-created company called EVO Business Supplies.
The Norwich-based company, which listed on the main market of the London Stock Exchange, is a major provider of business supplies and outsourced business solutions, primarily to large private and public sector customers.
Following its acquisition, Endless said it plans to merge office2office with Vasanta, a Sheffield-based stationary supplier it bought five years ago. Vasanta’s revenues in the year to December 2013 were £415m.
Office2office chairman Jim Cohen said: “Following a review of strategy, we have considered a number of options for office2office’s future and have concluded that combining office2office with Vasanta is the best way of creating value for our shareholders.”
Endless’ investment director Mathew Deering, said the merger would provide “an exciting opportunity” to deliver a strong offering to the market.