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Onesource continues on growth path with second major acquisition in six months following management buyout in August last year.
Leading New Zealand technology company Onesource Group Limited has purchased Australia’s largest independent document solutions provider, Danka Australia PTY Ltd, to expand its technology integration offering in Australasia.
Danka is Australia’s largest independent distributor of printer/copier hardware and software and has been providing leading edge document management solutions throughout the country for many years.
Onesource chief executive Evan Johnson says Danka currently turns over A$80 million per annum, which will significantly boost the revenue and profit base of Onesource Group. “This purchase is a significant step forward. Post acquisition, Onesource Group’s annual revenues will be approximately $250 million and we will have around 1,000 staff across Australasia.”
Danka currently have over 300 staff throughout Australia and a customer base of 20,000 clients and Johnson says Onesource is firmly behind the plans to further expand the Danka business. “Danka has enormous potential to become a leading player in the document solutions industry and will be managed by Onesource as a stand alone business. The Onesource management team is investing, along with our finance partners Archer Capital. We will now immediately pursue plans to leverage the group’s strong position in digital printing and copying across Australia.”
Onesource in New Zealand is a market leader in the printer and copier market through its Konica Minolta division, and in the telecommunications market with its Cogent Communications division. Also included in the group are specialist finance businesses: Onesource Finance and Leasing Solutions Ltd.
Onesource senior management and leading private equity company, Archer Capital, last year purchased Onesource Group from Hanover Group and immediately signalled intentions to grow the group through organic growth and future acquisitions. In the short time since the management buyout Onesource Group has acquired the GDC telecommunications business and now Danka Australia.
Onesource Group chairman, Greg Minton says Danka represents a good fit with Onesource Group.
“We believe that the quality of a business – including its management team - is the key
to the success of a transaction. With Danka, we are very much in tune with the plans the management team have, as well as being impressed with the fundamentals of the
existing business. We see significant growth opportunities for Danka,” Greg Minton says. |