The Channel logo

News

By | Paul Kunert 17th February 2015 11:56

Annodata consumes print services minnow STS

More acquisitions to come? You bet, says chairman St Quinton

Hertfordshire-based Annodata has plucked print services minnow STS Ltd from relative obscurity to bolt onto its own division that operates in the same field.

The buy fills a gap in the portfolio, namely large format specialised printing, adds nearly £3m in annual revenues and a customer base including William Hill, and several local papers.

As a result of the buy, Annodata’s Leeds office will close and staff are to be relocated to STS’s headquarters in Wetherby. STS managing director Peter Langstaff will “remain in situ”.

This is the second acquisition made by Annodata chairman Martin St Quinton - he joined in summer 2013 - who oversaw the buy of Keltec in November, with more are to come.

“Over the next twelve months we will look to make further strategic acquisitions like the Keltec deal last year to expand our product portfolio and tuck-in acquisitions like STS,” he said.

St Quinton, as many will remember, was the long serving CEO at Azzurri, who oversaw multiple acquisitions during his time on board. The business has struggled with integration problems and debts, until its banking syndicate of backers wrote off £282m.

Annodata was quick to point out it remains debt free and has sales on course to reach £80m.

In the year to June ’13, Annodata turned over £48m in sales, down from £57m in the prior year and reported profit of £394k. Keltec achieved revenues of £13.95m in calendar ’13. STS filled abbreviated accounts.

The price paid for STS was not revealed but the deal was “entirely funded” by existing cash reserves, the companies said. ®

comment icon Be the first to post a comment! alert Send corrections

Opinion

Baby looks taken aback/shocked/affronted. Photo by Shutterstock

Kat Hall

Plans for 2 million FTTP connections in next four years 'not enough'
Microsoft CEO Satya Nadella
Stranded_ships

Chris Mellor

Thousands of layoffs announced as spinning rust enters its death spiral

Features

Locker room jocks photo via Shutterstock
Best locker-room strategy: Avoid emulating AWS directly
STRASBOURG, JUNE 29, 2016: The seat of the European Parliament. by Marco Aprile for shutterstock. EDITORIAL USE ONLY
Plan b, image via Shutterstock
EU workers, new markets: post-Brexit pressure on May & Co
Tough question, pic via Shutterstock