A Staffordshire- based company which supplies photocopying machines to businesses throughout the Midlands is on the expansion trail following a £ 1 million takeover of Wakefield-based firm Document Systems.
Supported by a £500,000 loan from Lloyds TSB Corporate, Zerographic Systems, based in Dunston, Stafford, has bought Document Systems to consolidate its existing business and strengthen its customer offering in the North-east.
Established in 1990 by managing director Kevin Corbett, Zerographic Systems is one of the UK's leading Xerox re-sellers, supplying office equipment such as photocopiers, printers and scanners to a network of customers across the region.
As well as its head office in Dunston, which employs 65 staff, the company also has a second office in Bristol, employing around 12 people. It has an annual turnover of £17 million.
Last year Zerographic Systems was named the 83rd Fastest Growing Privately Owned Business in the UK by Real Business Magazine.
Documents Systems was established in 1998 and is also a Xerox re-seller. It employs 25 people at its base in Wakefield and has a £4 million turnover.
Following the buy out, Zerographic Systems employs more than 100 people and has an annual turnover of £21 million, which Kevin Corbett expects to increase to £25 million by the end of next year.
"Since it was first established more than 15 years ago Zerographic Systems has continued to expand at a healthy rate," he said.
"We started off with just two people, but since then we have opened an office in Bristol and three years ago moved our main operations from Telford to Stafford in order to expand our premises.
"This ongoing expansion has been the result of organic and strategic growth, which the buy out of Document Systems demonstrates perfectly.
"In buying the business, not only have we acquired a company that has demonstrated strong profitable growth, we have also acquired a team of people that have the knowledge and capability needed to make the business succeed."
Amanda Bullock, senior manager at Lloyds TSB Corporate, said: "Under Kevin's leadership Zerographic Systems is continuing to go from strength to strength.
"It has cornered the Xerox re-sale market in the Midlands and can now look forward to similar success in the North following the buy out.
"With new opportunities opening up in the market all the time I'm sure it won't be long before Kevin is on the acquisition trail again and Lloyds TSB Corporate will be right there to support him."