The end of 2010 was marked by increased M&A activity in the
business-to-business sector. In November, lighting products
supplier Lyco Direct announced it had further expanded its reach
into the b-to-c market with the acquisition of Lighting Direct.
Lyco acquired Lighting Direct’s assets, trading name and URL from
the liquidators for an undisclosed sum. It also took on two
members of staff.
Since purchasing Lighting Direct, says Lyco Direct’s managing
director Charles Barnett, “we have made some significant
changes and are already seeing a very encouraging increase in
sales”. Earlier in the year, Lyco made its first foray into
the consumer market with the launch of its LightingforHomes
website and catalogue.
In December, Kays Medical, a supplier of health and safety
products, equipment, and training services, announced it had
bought fellow medical equipment supplier DM Wood Medical. Terms
of the deal were not disclosed. The acquisition saw DM Wood
Medical become part of the Kays group retaining its Aberdeen
offices. DM Wood’s owner David Wood remains with the enlarged
company as operations director.
The b-to-b sector has also attracted venture capital interest. On
2nd November, Darwin Private Equity confirmed it had taken the
majority stake in office-supplies firm Euroffice. The investment
will help sustain Euroffice’s growth plans, which saw it expand
to Italy in 2009. The company now employs 49 people in London and
Milan.
The deal backs Euroffice’s existing management team, led by chief
executive Simon Drakeford. The company’s founder, George
Karibian, remains with the business as nonexecutive
chairman.
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