Capital Document Solutions sold to Agilico
Workplace technology provider Agilico has acquired Edinburgh-based Capital Document Solutions, completing the deal following the death of CDS founder Tom Flockhart.
This latest acquisition by the Horizon Capital-based firm is its biggest to date by revenue, headcount, and machines in the field (MIF) and significantly expands the Hampshire-based group’s capabilities across the UK.
It expands the customer base to 13,000 largely SME customers under CEO, Simon Davey, who said: “Tom Flockhart and I spent two years working together on this deal to make sure every aspect of it was carefully considered.
“Though he very sadly lost his battle against cancer before we managed to complete, I know he would be immensely proud of his board of directors and family for honouring his wishes to become part of the Agilico group”.
Mr Flockhart’s daughter and director of CDS, Pam Flockhart, said: “I am delighted that we were able to deliver on the project that dad started with Simon back in 2020, and I know he would have been very proud to see Capital take their place as part of a nationwide Agilico group.
“We look forward to working with the team at Agilico, to further strengthen and grow the business, continue to provide the highest quality service and offer new products and technologies to our customers”.
Luke Kingston, partner at Horizon, said; “Capital and Agilico share a similar ethos of customer centricity, and this combination will also enable the Capital customers to benefit from the broader workplace technology offering from the Agilico Group.”