OneSource on acquisition trail
- 31 October, 2006 22:00
Onesource Group has signalled it intends to acquire more businesses in Australia on the back of a strong first year of operations following a management buy-out from Hanover Group in 2005.
The group posted revenues for the last financial year of $156 million — up 15% on the previous year — with a trading profit in excess of $21 million, up 18%.
During the year it purchased Danka, Australia’s largest independent distributor of printer/copier hardware and software. Including Danka, combined revenues for the year are around $250 million. The group now employs 1,000 staff in Australia and New Zealand.
“Our aspiration is to be Australia’s leading suppler of integrated office technology solutions,” says chief executive Evan Johnson. “We will achieve that through focus on leadership in our chosen market segments.”
He says the acquisition of Danka gives the group a strong foundation on which to build the Australian arm of the business.
Also during the year, Onesource purchased the Leasing Solutions business from Hanover Group, gaining full control of its finance and leasing services.
Johnson says the vast majority of its customers finance through Leasing Solutions, which he says is critical to the flexibility of the group’s solutions.
The group also includes its Konica Minolta agency and Cogent Communications.