NIBC supports PCI Groep in acquisition of DantumaNieuws -
PCI is the largest independent supplier of Canon office and document solutions in the Netherlands and the fourth largest Canon reseller in Europe. The company is active in the field of office and document solutions, delivering everything from paperclips to multi-functional office equipment, such as integrated copiers and printers with scanning functionalities. The company employs 95 people and is headquartered in Duiven.
Dantuma Founded in 1908, Dantuma is an independent multi-brand supplier of tier-1 copier and document management solutions in the Dutch market with national coverage. The company operates its own service department for all its brands, including Ricoh, HP, Sharp, Lexmark and Samsung. The company employs 120 people and is headquartered in Haarlem, with additional offices in Rotterdam and Zwolle.
The printer market is rapidly changing from a market with a strong focus on hardware to one with a high demand for document management and added value services. Clients are looking for companies able to help digitalise entire business processes. The demand is shifting from printers to integrated solutions for document flows with businesses, such as the digitalisation of incoming invoices, which are scanned in immediately and linked to payment systems. These kinds of services deliver major efficiency – and cost – benefits for clients. For PCI, this shift created a need to recruit more highly-qualified staff, but would also require greater scale to meet growing national demand. The acquisition of Dantuma would solve both of these problems, giving PCI access to Dantuma’s document management solutions expertise and giving it national coverage.
PCI is a core client of the NIBC’s Industries & Manufacturing franchise since 2014, when the bank developed an innovative EUR 20 million captive finance solution for the company based on underlying client contract cash flows. To help PCI with the proposed acquisition of Dantuma NIBC structured the extension of this financing solution to EUR 30 million, based on the inclusion of Dantuma’s contracts. This innovative financing opened the door to the acquisition of Dantuma and played an important part in the financing of the transaction.
NIBC’s also provided EUR 12 million bridge financing and M&A and capitalisation advisory on the acquisition itself, as well as the optimal post-acquisition capital structure of the combined group.
This is a major transaction for PCI, doubling the company’s size, transforming it into a multi-branded market leading supplier of office and document solutions and giving it much greater national coverage. The enlarged company will have a total of 215 employees, annual revenues of over EUR 50 million and locations in Amsterdam, Rotterdam, Utrecht, Haarlem, Arnhem and Zwolle.