Records storage group Oasis expands in Europe with two acquisitions
Oasis Group, an Irish records storage specialist, has acquired two businesses as it continues to implement its European expansion programme.
The company, which was founded in 1999, has acquired its seventh Box-it record storage franchise in the UK, and Polish records and inventory management firm ArchiDoc.
Both deals were completed in mid-October, marking the 45th and 46th acquisitions for Oasis Group to date.
Espen Halvorsen, chief executive of Oasis Group, said the acquisition of ArchiDoc, Poland's second-largest records and inventory management company, marked the firm's strategic objective to expand into central Europe.
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"The decision to expand into central Europe was a logical step in our business growth strategy," he said.
"We are also pleased to integrate a team that delivers significant and profitable growth, thanks to its client-driven strategy."
On the acquisition of its seventh Box-it franchise in the UK, which will be based in Kent, Halvorsen said the company hoped to bring its "innovative products and services to a new audience".
In 2017, Oasis Group, which began moving into its new headquarters in Swords, Dublin, last week, was acquired by Montagu, a UK private equity company, in a deal believed to be worth at least €100m.
The private equity group stated following the acquisition that it would work to grow the business through further European expansion.
Offsite Archive Storage & Integrated Services, which operates the Oasis Group brand, reported a profit of nearly €4.5m in the year ending October 2018. The performance last year brought the company's reserved losses to €12.5m.
In 2015, Oasis Group spent more than €44m buying rivals in Belgium and the Netherlands. Its acquisition spree continued in 2017, buying the Federal Archive in Cork and Removal Services Scotland in Edinburgh.
Sunday Indo Business