Thu, 18 Feb 2010 | ADMINISTRATION
Managed services provider Office2office plc (O2O), has purchased the assets and business of the business process outsourcing (BPO) arm belonging to The Print Factory London (1991) Limited and The DSR Group Limited, which have both entered administration.
The administrators Allan Graham and David Standish of KPMG confirmed the sale of the BPO division this week for the sum of £700,000.
O2O is to acquire the following assets from the sale according to its website: "two leasehold properties, certain employees of the BPO business and a wide range of customer relationships and contracts recently generating £20m per year of turnover."
Simon Moate, chief executive of O2O, is eager to merge the bought business with its own BPO operations, and sees the move as a "hugely positive step toward our goal of becoming a true leading player within the BPO sector."
He added: "This acquisition is an important development, broadening our customer base and increasing our market coverage in the sector."
O2O's own BPO operations originated from its £26m acquisition of AccessPlus in 2008.
It had been recently reported that The Print Factory had faced a winding up petition by HM Revenue and Customs over a multi-million pound debt.
Total current liabilities of £19.4m were entered in its last recorded accounts for the year to 30 June 2008 and revenues of over £65m.
Main provider of care within the geographical area. Strong 2nd tier management team in place, including 100 care staff Strong relationships with local services. Freehold Premises included within the sale. Offers invited.
FREEHOLD
Provides automotive oils, fluids and lubricants to clients in the automotive, rail, metalwork and industrial sectors. Also supplies a range of original equipment manufacture (OEM) approved products for prestigious, blue-chip clients. Offers invited.
LEASEHOLD
Provides a wide range of bespoke oak furniture options, including mantles, fire surrounds, shelving and mouldings. A full turnkey operation, from initial product planning through to final distribution and delivery. Offers invited.
LEASEHOLD
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