Better Capital buys OfficeTeam
| 25 July, 2014
Better Capital, which owns Spicers, has wholly acquired OfficeTeam, the UK-based supplier of office products and services, for £80m, with a further £10m commitment to support the firm's restructuring.
OfficeTeam was acquired from a syndicate of lenders that took control of the group last year. It was founded in 2010 following a series of acquisitions made by Oyez, a provider of specialist forms and services to legal and professional organisations. The company supplies office products and services to more than 12,000 customers and generated a turnover of £142m in 2013 with EBITDA of £13m.