AURELIUS Equity Opportunities SE & Co. KGaA
- WKN: A0JK2A
- ISIN: DE000A0JK2A8
- Land: Deutschland
Nachricht vom 22.06.2021 | 14:31
AURELIUS Equity Opportunities SE & Co. KGaA: AURELIUS subsidiary Office Depot Europe sells its UK and Ireland contract business to strategic buyer OT Group
DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA
/ Key word(s): Disposal
AURELIUS subsidiary Office Depot Europe sells its UK and Ireland contract business to strategic buyer OT Group
- The acquired customers in the UK and Ireland will be integrated into OT Group
- Fifth sale of an Office Depot Europe business in the past 20 months
- Sale will focus Office Depot Europe on its core European markets and e-commerce-centric activities
- Completion of the sale is expected in the near future
Munich/Venlo, June 22, 2021 - Office Depot Europe, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) has agreed to sell its larger mid-market, major and public sector contract customers in the UK and Ireland to strategic buyer OT Group. OT Group headquartered in Smethwick, UK, is a leading provider of business services and workplace solutions across the UK and Ireland and part of Paragon Group. Completion of the sale is expected in the near future.
As part of the transaction, OT Group will take on Office Depot Europe's distribution centre in Ashton-under-Lyne, Manchester and the headquarters of Vital Communications, Office Depot's print, marketing & communications business in Dartford, Kent. The deal extends OT Group's capacity to serve its customers through the addition of Office Depots Europe's state-of-the-art warehousing facilities and new key verticals. OT Group will also enter into a collaboration agreement with Office Depot Europe, servicing the international customers that will be transferred as part of the deal.
This sale is the fifth non-core Office Depot Europe business sold within the past 20 months. Office Depot Europe sold its Central Eastern European ("CEE") business in November 2019, its Nordic division in May 2020, its Spanish contract business and direct business units in the summer of 2020 and its Italian business in February 2021.
The transaction is part of Office Depot Europe's ongoing transformation, following Office Depot Europe's overall strategy of focusing on its e-commerce-centric trading brand Viking in its core European countries of DACH, Benelux, UK and Ireland, where it benefits from a strong and leading position. Focusing on the development of its online focused business and on its transformation programme will ensure Office Depot Europe's long-term position as a leading supplier of workplace solutions in the market.
"We look forward to welcoming our new customers and colleagues to the OT Group, once the tupe process has concluded. Office Depot Europe will add a wealth of experience and knowledge to our extended range of workplace solutions and business services. This acquisition aligns with our ambitious growth strategy, as well as our plans to expand operations throughout Europe. The needs of our customers is our key priority. We would like to reassure all current OT Group and new Office Depot Europe customers that we are planning a seamless transition during the integration period", said Andrew Jones, CEO of OT Group.
Raffael Reinhold, CEO of Office Depot Europe: "We are pleased to have entered into this agreement with OT Group. This transaction will further accelerate our strategic transformation whilst ensuring continuity of service for our UK and Ireland contract customers focused on bespoke solutions, and a bright future with OT Group for our colleagues."
AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid, Amsterdam and Luxembourg. Since its foundation in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager.
Key investment platforms are its AURELIUS European Opportunities IV fund as well as listed AURELIUS Equity Opportunities SE & Co. KGaA ("AEO"; ISIN: DE000A0JK2A8), which acquire corporate carve-outs and companies with development potential in the mid-market (fund) and lower mid-market sector (AEO). The investment strategy's core element is operational support of its portfolio companies with a team of about 100 in-house operating taskforce experts.
AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Investments invests in leveraged buyouts usually in succession situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.
With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.
To find out more, visit www.aurelius-group.com.
About Office Depot Europe
Office Depot Europe helps create great workspaces for everyone, everywhere as a leading expert in workplace solutions.
They operate in multiple countries and work closely with some of the world's biggest brands to the smallest start-ups, and everything in between. With decades of experience and expertise, they offer an integrated, multi-channel platform and dedicated professionals across their main channels and brands: Office Depot and Viking.
Office Depot Europe works hard so their customers can focus on growing their businesses while being more productive, efficient, sustainable and cost-effective. Office Depot Europe and Viking provide them with expertise in workplace supplies, technology, writing & machines, facilities, furniture & presentation, paper, labels & envelopes, filing & solutions and general office supplies & mailing. Crucially they work as a trusted partner with their customers to add value to their business, often as a single source for everything their customers need.
Office Depot Europe is a trademark of AURELIUS Group, a pan-European investment group. For more information, please visit www.officedepot.eu.
About OT Group
OT Group (www.otgroupltd.co.uk) is a leading provider of business services and workplace solutions - direct to end users and via the wholesale channel. Our brands have been trusted supply chain partners for businesses across the UK & Ireland, large and small, for over 130 years. Through a consolidated range of business solutions, we help companies control costs, drive efficiency and improve productivity. With over 100,000 products, including the 5 star(TM) product brand, we provide one of the UK's most extensive portfolio of products.
About Paragon Group
Paragon Group (www.paragon-europe.com) is a leading provider of Customer Communications, Identification, Graphics Services and Workplace Services. Paragon Group combine generations of experience with the latest innovations in technology and smart data to enable responsive and meaningful interactions between organisations and their customers.
Investor Relations & Corporate Communications
Phone: +49 (89) 544799-0
Fax: +49 (89) 544799-55
|Company:||AURELIUS Equity Opportunities SE & Co. KGaA|
|Phone:||+49 (0)89 544 799-0|
|Fax:||+49 (0)89 544 799-55|
|Listed:||Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange|
|EQS News ID:||1210701|
|End of News||DGAP News Service|
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