Business

Danwood Group has continued its aggressive acquisition strategy with the buyout of Well Connected Scotland and Well Finished, through its subsidiary Danwood Scotland.

The latest acquisitions by the fast-growing distributor of both office and professional equipment come following an investment in May by private equity house Englefield Capital.

Over the past three years, the company has consolidated its position in the Scottish market with the acquisitions of Paragon Corporate Systems, Grampian Business Products, Norcom Solutions and MBR Group.

Danny Cameron, managing director of Danwood Scotland, said: "The Well Connected business is an extremely important purchase for Danwood, which further demonstrates the group's commitment and willingness to invest in its Scottish business as we push to achieve our objective of making Danwood Scotland the premier supplier in our marketplace."

Well Connected Scotland distributes Konica Minolta and Sharp printers to the Scottish markets. Its sister company Well Finished specialises in the distribution of finishing equipment.

Financial details of the deal were not disclosed.

Danwood and Englefield have set out their stall to expand into Europe with acquisitions in Belgium and Holland likely to be their first steps.

Formed in 1971, Lincoln-headquartered Danwood distributes Sharp, HP, Panasonic, Ricoh and Konica Minolta printers across the UK. The £120m-turnover company employs more than 1200 staff at 30 offices nationwide.