Matrix took a minority holding in the Cambridge company during a management buy-out (MBO) in December 2010. The private equity firm has now invested a total of £6.3 million in the company, which plans more purchases over the next year.

Transcribe operates in the same market as ASL, supplying printers and multi-function products to a mixture of small and medium-sized enterprises (SMEs) located in Kent and East Anglia.

According to a Matrix statement, the combined group now has annual revenues of more than £15 million and is the largest provider of printing and copier solutions to SMEs and the education sector in the Midlands, East Anglia and Kent. ASL was founded in 1991 and employs 90 staff.

Guy Blackburn, investment manager at Matrix who sits on the Board of ASL comments, ‘Just three months after we completed the MBO of ASL, the management team has delivered on its plan to make selective acquisitions to further expand its regional presence and client base.  We will continue to support the business as it carries out its acquisition growth strategy’.