EO Group has acquired leading independent office supplies dealer, Eurostat.
Eurostat, with over 60 members of staff in four UK cities, has grown enormously since its inception in 1991, making it a desirable prospect for acquisition. It initially met with EO Group to discuss the concept of Eurostat joining Office Power, but after 27 years in charge, CEO Stefan Mercado was ready to sell up and retire.
EO Group’s CEO Simon Drakeford considered this ‘too good an opportunity to pass by’ and a ‘very strong strategic fit’, and it will allow EO Group to increase buying power, further develop the Office Power platform, and drive customer loyalty.
Drakeford said of the deal: “The business case for Eurostat joining Office Power was so strong that, when Stefan expressed a desire to exit the business, the obvious course of action was for us to acquire it. The strategic fit is perfect, and the benefit will be felt across all parts of our business; which further validates our technology and the success our platform has in organising dealer networks.”
Mercado added: “I was originally very attracted to the concept of Office Power but felt that after 27 years of successfully building the business it was time to step down completely and hand over to a new team that would inject the modern tech, vitality and strategic direction that Eurostat now needs. I believe I have found the ideal partner to do that – both for my customers and all my colleagues at Eurostat – and I will be enthusiastically cheering them on with excitement and a proud heart from the side lines now, as they move forward, prosper and grow within the EO Group.”