ABN AMRO takes OyezStraker


ABN AMRO has acquired a majority stake in OyezStraker. The deal
which followed rumour and speculation that the office supplies
distributor was nearing a sale, values the business at £163
million. ABN AMRO Capital will invest £41.2m and Hermes
Private Equity will reinvest a further £7.8m alongside ABN
AMRO Capital, with management also making a substantial
reinvestment.

OyezStraker has a turnover of £190m, has a customer base of
over 25,000 firms and employs 1,150 people across the UK. Jeff
Whiteway, group CEO of OyezStraker, said, “We are very
pleased to have secured ABN AMRO Capital’s backing and look
forward to a successful partnership. ABN AMRO Capital shares our
vision for the development of OyezStraker and is highly
supportive of our growth plans. We are very optimistic about our
prospects for the future.”

Meanwhile, OyezStraker has acquired Thurrock-based Equations
Office Solutions for £7m from the administrators. Jeff
Whiteway commented, “It doesn’t give me any satisfaction in
buying a business from an administrator as it will mean a trail
of creditors being left out of pocket. Our ability to act
quickly, to safeguard the business, will help protect jobs and
will at least put some money into the coffers of the
administrator. This latest acquisition moves our turnover above
£190m and growing rapidly. The group continues to seek
further acquisitions, preferably of solid businesses with strong
management teams.”

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