Williams Lea Buys TSO - Public Sector Trade Target

Williams Lea, the corporate information services provider, announced yesterday that it has reached agreement to acquire The Stationery Office (TSO) from Apax Partners.

Williams Lea, the corporate information services provider, announced yesterday that it has reached agreement to acquire The Stationery Office (TSO) from Apax Partners.

The acquisition is expected to be completed within eight weeks, subject to satisfactory competition clearance.

TSO is the UK document and publishing services brand in the public sector and combines industry experience with a legacy and track record of consistent delivery, said Williams Lea.

The company added that TSO has well-established and loyal client relationships, characterised by long-term partnerships with a range of clients, including UK Government departments, Government agencies, non-departmental public bodies and some private sector businesses.

The acquisition announcement establishes Williams Lea in the rapidly expanding market of public sector business process outsourcing, which is forecast to grow at 23.5 per cent to GBP1.3 billion by 2008, said the company.

It added that demand is being driven by a growing number of Government departments, changes in regulation and legislation and the desire to increase efficiencies within the public sector as a whole.

Williams Lea believes it and TSO are highly complementary businesses.

Recognising the importance of the TSO brand, the business will retain its identity and trade as the public sector division of Williams Lea, led by Richard Dell, its existing chief executive.

Going forward, Williams Lea said it will share its approach with clients to improve and expand TSO's proposition, broaden its services and invest in the future development of the business.

Tim Griffiths, chief executive of Williams Lea, commented: "The acquisition of TSO gives us a pre-eminent position in public sector business process outsourcing market, a rapidly growing segment in the UK.

Working with TSO, we can introduce our broader proposition and proven methodology to deliver a best-in-class offer for our enlarged client base." He added: "We strongly believe that TSO's clients will benefit from today's news and the combined businesses will be well positioned to generate further growth opportunities.

Our focus remains on outstanding delivery and building on the long term partnerships that TSO has established with its clients." The Stationery Office's Richard Dell, said: "This is excellent news for TSO's many clients.

Like TSO, Williams Lea has a proven reputation over many years for delivering an outstanding service to clients.

With our combined experience and Williams Lea's investment and innovative approach, we will build on our market position and strengthen existing relationships.".

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