Inverness-based Highland Office Equipment, as a subsidiary of Edinburgh-based Capital Document Solutions, becomes part of the UK's biggest workplace technology specialist Agilico to fulfil the wish of the later founder Tom Flockhart
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An office equipment giant with a strong Inverness and Highland heritage is set to become part of a UK-wide group – fulfilling its founder’s dying wish.
Highland Office Equipment, as an Inverness-based subsidiary of Capital Document Solutions, has been acquired by UK-wide workplace technology specialist Agilico.
The local outlet and its 20-strong Inverness workforce will now join a group totalling 475 staff,13 UK offices and £70 million in annual revenues.
Capital Document Solutions became one of Scotland's best known business-to-business firms.
Fondly-remembered founder and renowned Scottish businessman Tom Flockhart set the acquisition in motion before sadly passing away from cancer in April this year.
Capital Document Solutions remained fiercely independent and Scottish-focused under Mr Flockhart’s leadership and, from its launch in 1979, he built a 150-strong business with £15m in revenue.
After years of discussion on succession planning, and rebuffing potential acquirers, he finally found his favoured match in Agilico.
Advanced negotiations were cut short by the businessman’s death at the age of 73, after a short illness.
Mr Flockhart’s family and closest business colleagues were able to see through the completion of his deal, which was signed during an emotional meeting in Edinburgh.
• RELATED STORY: Business community mourns after self-made man Tom Flockhart passes away at age 73
Andrew Aikman, managing director of Capital Document Solutions, worked with Tom for 41 years.
Mr Aikman 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, added: “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.”
Simon Davey, the CEO of Agilico, has helped build the firm into the biggest, independent managed print services (MPS) business in the UK.
Since 2018 he has overseen the successful acquisition of nine other family businesses across the UK.
Mr Davey said: “Tom was a straightforward character and larger than life. When we first spoke two years ago, I told him that Capital Document Solutions was the one business I wanted in the group more than any other.
“Fortunately, he knew of me and Agilico and was prepared to listen.
“But he also told me that there was absolutely no way he would let me into Scotland – he said I had to build his trust first.
“Our first face-to-face meeting was therefore in Berwick.
“Over dinner, Tom absolutely grilled me for the first 10 minutes and it would have been easy to think there was no chance of a deal, but I decided to push back and grill Tom – he really loved that.
“Thereafter, we clicked and over countless meetings, negotiations, dinners – and whiskies – we built a great relationship and I made a promise to Tom that I would look after the business.
“I intend to keep it. Sadly, he lost his battle against cancer before we managed to complete it, but I know Tom would be immensely proud of his board and family for honouring his wishes.”
Both Capital Document Solutions and Highland Office Equipment will retain their names and identities.
