Spicers Office Team (SPOT) filed a notice of intention to appoint administrators last month, after it emerged that the firm’s board and private equity owner Better Capital were working urgently to find a buyer for the business.
Paragon Group acquired the OfficeTeam and ZenOffice businesses after parent group SPOT went into administration on 14 May, with administrators EY appointed. At the same time, it was confirmed that wholesale office supplies wing Spicers had ceased trading, other than for the managed wind down of its affairs and the sale of its remaining assets.
Sean Shine, CEO of the Paragon Group, said: “We are delighted to welcome OfficeTeam and ZenOffice to the Paragon Group, adding their expertise to our growing range of Workplace Solutions and Business Services. Paragon continues to assess markets to ensure we align our service offering with our customer demands and this acquisition addresses existing customer requirements. The acquisitions underline Paragon Group’s ongoing commitment to being the market leading service provider for businesses in the UK.”
OfficeTeam, a business services and workplace solutions provider, is a nationwide distributor of stationery and office supplies with a customer base of blue chip companies.
OfficeTeam CEO Steve Horne remains with the business and said “Growing to meet the changing needs of our customers has always been our key priority, therefore becoming part of Paragon Group is an exciting opportunity for the business and for our customers, as we will now be able to provide even greater supplier consolidation and operational cost optimisation at a time when our customers need it most.”