Endless Announce Offer to Acquire office2office plc (o2o)
EVO Business Supplies, a company wholly-owned by funds managed by Endless LLP, today announced that it has made an offer to acquire office2office plc (o2o). The Board of o2o has agreed to recommend the offer to the company’s shareholders. The offer is subject to shareholder and Court approval.
After acquisition, Endless intends to merge o2o with the Vasanta Group, which it already owns. This will create a £660m multichannel distributor of business supplies and services.
The merged group will generate around 60% of its turnover through reseller customers, 30% from direct sales to large corporate and public sector clients and 10% through the Banner Managed Communications business.
Robert Baldrey, Group CEO of Vasanta commented: “We created the multichannel structure of the group to enable us to serve the entire market. It was designed with industry consolidation and the fast evolving and challenging nature of the market in mind. With Vasanta’s well invested infrastructure, one of the broadest product ranges available, the combined talent of the Vasanta and o2o teams and the Truline final mile delivery service, we are confident that the combined group will be a powerful force in the industry.”