10th June 2016.
The Ethos Group continue to grow with the acquisition of Copiertec.
The Ethos Group is delighted to announce the acquisition of Managed Print company Copiertec.
Copiertec, a Ricoh dealer with offices in Feltham and Manchester, are a very well established and successful business formed in 1988.
Copiertec will continue to trade under its own identity from its existing premises and the former owners, Sumie Naidu and Richard Davis, both of whom have extensive industry and sales experience, will be staying with the business maintaining close relationships with their customers and assisting the Ethos Group with the future growth of Copiertec.
This acquisition will increase group annual revenues by a further £3.2m, annual contracted annuity by £2m and will increase full year EBITDA by an additional £1m.
The acquisition also adds to the Ethos Group's presence across the country with established offices now in the London, Midlands, Cambridgeshire, South West and Manchester areas.
Paul Norris, Group Managing Director of Ethos Group said:
We continue to look for organic and acquisition opportunities as we build the business and I would like to take this opportunity to thank all staff across the organisation for their ongoing commitment, hard work and dedication.
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