A SCOTTISH office equipment business has been sold following the death of its founder.
Capital Document Solutions, set up 43 years ago by Tom Flockhart who built it into a 150-strong business with £15m in revenue, has been acquired by Agilico.
The deal had been started some time ago by Mr Flockhart and completed by his family and the close-knit team following his death from cancer earlier this year.
UK-wide workplace technology specialist Agilico signed the deal with Mr Flockhart’s family and closest business colleagues during an emotional meeting in Edinburgh. It creates a business with 475 staff, 13 UK offices and £70m in annual revenues.
Andrew Aikman, managing director of Capital Document Solutions, who worked with Mr Flockhart for 41 years, said: “It means a lot to everyone who worked with Tom and given all the circumstances it was incredibly emotional.
"We knew this was what he wanted for the business that he had devoted almost his entire working life to growing and developing, and for all of the staff, for whom he felt a great duty of care.”
Pam Flockhart, the late businessman’s daughter who is also a director with the firm, said: “This is something that has taken a lot of consideration and planning over a number of years. Rather than a reaction to dad’s death, the impact of Covid or anything else, this is about all of us who were closest to him delivering on dad’s wishes.
“He had many approaches over the years but insisted that none of those potential acquirers were the right fit. That changed when he met Simon from Agilico. He was convinced this was the right deal for our staff, customers and suppliers.”
That first meeting was two years ago, with Simon Davey, chief executive of Agilico, who has helped build the firm into the biggest, independent managed print services business in the UK.
Mr Davey said: “Tom was a straightforward character and larger than life. When we first spoke, I told him that Capital Document Solutions was the one business I wanted in the group more than any other.”
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