Matrix Private Equity Partners has acquired a minority holding in the Cambridge company as part of the restructure which was finalised at the end of last year. It was the third deal in a month for the firm following the £9 million MBO of European recruiter RDL Corporation and the £4.5 million buy-out of publishing business Faversham House.

Matrix investment manager Guy Blackburn joins ASL’s board as non-executive director. ASL, which was established in 1991, provides printing and copier services throughout England and has annual revenues of more than £10 million. The company employs 60 staff and primarily services schools and small and medium-enterprises in East Anglia and the Midlands.

Blackburn comments that the deal will lead to ASL becoming acquisitive this year. He explains: ‘ASL is an excellent platform to pursue a “buy and build” strategy in the sector. The core business is well established and profitable and has an excellent reputation with its customer base and in its region.’

He adds: ‘We intend to further consolidate our regional strength by making selective acquisitions to create an enlarged group, which will become an attractive target to larger national players looking to expand their geographic reach.’