Major workplace supplies and services provider Banner has acquired leading cleaning and hygiene products specialist Subec Wiping Solutions for an undisclosed sum.
Subec, based in Hinckley, Leicestershire, supplies the UK commercial, industrial and domestic markets with a wide range of branded and unbranded products, in categories from catering and floor care to nursing and vehicle cleaning.
Products supplied by Subec include hand soaps, sanitisers, paper disposables and impregnated specialist wipes.
Subec, which has a string of major national clients and high-value contracts, has recorded annual revenues running into seven figures during the last four years. Owners and shareholders Sue Knight and Ian Jones, who founded the company in 2001, will remain with the business, which will continue to operate from its present site and trade under its current name, following the sale.
Banner, based in Wakefield, West Yorkshire has clients in the public, private and third sectors. Its customers include some of the biggest FTSE 100 businesses, major banks, government departments, local authorities, charities, non-governmental organisations and small and medium-sized enterprises.
Banner’s heritage lies in stationery and print-related supplies, but it also now provides solutions and services for all workplaces, including cleaning and janitorial products, furniture, printed goods, technology and office services.
Explaining the reasons for the purchase, Craig Varey, managing director, Banner, said: “We see immense value in the Subec business, which we feel represents the ideal acquisition to enhance the evolution of our cleaning and hygiene category. Subec has experienced considerable growth since its foundation and has established a prominent reputation within its industry.”
Craig added that the union of the businesses left them ideally positioned to pursue further growth and increase turnover significantly.
Summarising the thinking behind the sale, Subec’s Sue Knight said: “Over the years we’ve earned an excellent reputation in our sector as a professional, trustworthy and reliable service provider. We continue to receive a continual stream of repeat and referral business and we’re really excited by the opportunity to offer a more diverse set of product categories to our loyal customer base.”
The Subec purchase represents the latest strengthening of its market coverage by Banner, following its absorption of business product resellers WA Office Needs, based in Manchester, in July 2017, and West Yorkshire-headquartered Ventura Office Supplies this January.
Craig said: “Our strategy means we’ll continue to develop and grow by adding to our products, brands, categories and sectors. We’ll also maintain our policy of accelerating this process through strategically-aligned acquisitions, where they’ll deliver benefits for our customers such as adding important expertise in key expansion areas.”
