HMT LLP advised Veritek Global Limited (“Veritek”) and Clydesdale Bank plc on the recent acquisition of A&O Imaging Services (UK) Limited (“A&O”), an independent organisation which maintains and services photo-processing equipment.
Veritek was founded in 1985 and initially specialised in technical service and support for the photographic developing and printing markets. Veritek consolidated its market share in the photo imaging sector during the transition from analogue to digital equipment and has subsequently diversified and expanded into the Healthcare, Optical, Digital Cinema and Graphics industries. It is now a leading European provider of high quality, customer focused, technical service and support to imaging-related sectors. Veritek has fully owned and controlled service operations in the UK, Spain, Germany, Italy, Holland, Czech Republic, Poland and Greece.
A&O is an independent service organisation that maintains and services photo-processing equipment used by photo development outlets around the UK. The company was originally established following the management buyout of the services and parts business of AgfaPhoto UK Ltd.
Andrew Thomson commented:
“HMT are delighted to have advised Veritek on this acquisition, which has strengthened their service offering and further consolidated their market share in the sector. We look forward to working with them again soon.”
Jonathan Briant, Group Finance Director at Veritek, commented:
“HMT brought a dynamic and commercial approach to this transaction that played an important role in maintaining momentum. Andrew’s insight was important in identifying risks and presenting solutions to keep execution risk to a minimum.”