South African office automation systems and solutions provider Nashua Holdings has acquired a 60% stake in Prodoc Svenska, a Swedish office automation, document solutions and workflow provider.
The transaction is effective from 1 January 2014. All necessary regulatory requirements have been fulfilled.
Nashua and Prodoc both supply Ricoh products and rank within Ricoh International’s top five independent office automation distributors.
The acquisition will provide Nashua with growth opportunities in a new territory and first-hand knowledge of cutting-edge managed document solutions that it will be able to roll out to its home-market customers. Prodoc, which was established in 1976, has grown revenue considerably after a management buy-out three years ago. Nashua’s capital injection and expertise in franchising and its asset financing model should bolster further expansion.
“Prodoc has a strong management team with a proven track record,” says Dave Rawlinson, CEO of Nashua’s holding company Reunert. “This partnership will not only provide us with access to innovative document workflow systems, but could also provide an ideal base to expand into other Nordic countries.
“Sweden has a strong and stable economy and is acknowledged for its innovative solutions and products. We can learn much from them,” he adds.
