Print services firm Apogee, which employs 100 people in Lincoln, has been acquired by HP for £380 million.
The firm, which also has offices in Manchester, Birmingham and Wakefield, is Europe’s largest independent provider of print, outsourced services, and document and process technology.
As previously reported, the national managed print service provider acquired Danwood in March 2017 for an undisclosed sum – which at the time was the fourth and largest acquisition for Apogee since it secured a significant investment from Equistone Partners Europe.
The recent deal with HP is expected to close by the end of calendar year 2018, pending regulatory review and other customary closing conditions.
Following the close, Apogee will operate as an independent subsidiary of HP, with a governing board comprised of HP and Apogee management.
Apogee will have the same commercial relationship with HP as any other premium partner with access to the same tools and partner programs.
Enrique Lores, president, HP imaging and print said: “The Apogee acquisition extends HP’s print leadership by boldly leveraging the industry shift to contractual sales as we aggressively pursue the A3 office market.
“We’re augmenting our go-to-market and enhancing our ability to deliver the services necessary to win in the profitable contractual market.
“This deal complements our broader channel strategy and HP remains committed to building our business through our best-in-class partner program.”