Communisis now under new ownership

By Jo Francis, Tuesday 11 December 2018

Be the first to comment

OSG's takeover of Communisis has completed, and the PLC has been de-listed from the stock market.

commuinisis

Communisis buy means OSG will more than double in size

US-headquartered billings services specialist OSG’s recommended offer of 71p a share for the business gained court approval last week, and the associated scheme of arrangement became effective yesterday.

Communisis shares were de-listed as of this morning (11 December).

The group’s chairman David Gilbertson has resigned as a director of the business, as have non-executive directors Peter Harris, Jane Griffiths and Helen Sachdev.  

Chief executive Andy Blundell remains in post along with his senior leadership team.

OSG’s chief executive Scott Bernstein and chief financial officer Kent Herring have also become directors of Communisis.

The takeover deal valued £376m turnover Communisis at £153.8m, and marked acquisitive OSG’s first foray into Europe. It means the business will more than double in size.

Since the deal was announced in October OSG has also acquired US firm NCP Solutions, and entered the Canadian market with the purchase of Formost MediaOne. 

Both companies specialise in outsourced billing and document services.

Share this

Related headlines

US group plans Communisis takeover
23 October 2018

Acquisitive US billing services group OSG aims to expand into Europe and will more than double in size...

Unite calls off strike action at Communisis Crewe
20 September 2018

Strike action at the Communisis cheque printing operation in Crewe has been called off after Unite members...

Sales up at Communisis
02 August 2018

Chief executive Andy Blundell has spoken out on the industry’s need to improve margins, as Communisis...

Communisis strengthens board
10 May 2018

Communisis has appointed an additional non-executive director who bring extensive experience in financial...

This Issue

Latest comments