Springboard advise on the sale of Geerings Digital to Automated Systems Group


 

Geerings Digital (“Geerings”), a leading player in the managed print services industry, has been sold by Springboard Corporate Finance to Cambridge based Automotive Systems Limited (“ASL”) for an undisclosed sum.

About the deal

Geerings, which is based in Ashford, Kent, supplies and services print management solutions to commercial and education sectors across Kent, Essex, London, Sussex and Surrey. Family owned Geerings has built an strong reputation and offers a market-leading range of solutions.

ASL reported revenues of £19.8m for its year ending 30 September 2017, and the acquisition will boost the company’s overall turnover past £27m, along with increasing headcount to 140. ASL Group of Companies is backed by Mobeus Equity Partners and specialises in telephony and unified communications, production print and IT support.  Geerings represents ASL’s second acquisition in 2018 having previously acquired eight businesses in the sector.

How we made a difference

  • Performed benchmark valuation to assess likely trade appetite;
  • Confidentially approached a small and select number of trade acquirers;
  • Managed a competitive sales process to maximise the terms of exit and ensure a clean sale of the divisional business; and
  • Project managed due diligence and legal processes

The client on Springboard

“Having been approached by a competitor to sell the business, we decided to appoint Springboard to handle the approach and confidentially market the business for sale.  Springboard’s process and expertise drove value for the business and they delivered an excellent result for us.  I would not hesitate to recommend Springboard.”

Will Geering – Chairman, Geerings Limited


WHAT OUR CLIENTS SAY

"The sale of Portman was a complex transaction, Springboard provided excellent support to the institutional and management shareholders throughout the process. Their practical, partner led advice was invaluable in delivering a successful outcome."
Daryl CohenVision Capital
"We are indebted to Springboard for their professional and dedicated work in successfully bringing the two companies together. Their experience proved invaluable in addressing the complex negotiations whilst allowing the management team to focus on continuing to grow the business. I am in no doubt that Springboard saved us time and energy, reduced our stress, and worked tirelessly to achieve this outcome."
Brian McCluskieTollblend
“It’s a great feeling knowing that we had a highly professional and experienced team of advisors supporting us throughout. It was invaluable having Springboard managing the whole process for us which enabled us to keep our focus on running our business. They are particularly diligent and remained 100% focused on keeping the deal fully on track and getting us to the end point.”
Hilary ScanlonAshley Kate HR