The Bradford-based firm distributes Xerox printers, multifunction devices and copiers and was previously owned by Tony Cavanagh. He has sold the business to his sons, Steven and David. The MBO was backed by Baker Tilly and HSBC.
Document Solutions managing director Steven Cavanagh said: “We are fully aware of the potential growth in the business, with the addition of scanning, colour and document management. We wanted to exploit this opportunity to the fullest.”
His brother, David, is the firm’s financial director and has taken on additional responsibility for internal administration.
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"Sad to see another print company facing financial trouble. The industry is tough, and this highlights the ongoing challenges many are facing. Hope employees and customers get clarity soon."
"Not surprised, businesses need to prepare for these attacks rather than thinking that they're going to avoid them. At the very least, data needs to be fully protected with air gaps in place..."
"So much for growth then!"
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