Annodata Limited



Transaction type Private M&A

Sector Technology

“This marks a significant opportunity for our partners, customers and people as we become part of the global Kyocera family and continue the journey we started back in 1988. When looking for an advisor we wanted someone with an international network and experience of working with buyers both here and overseas. Cavendish had the expertise to facilitate the transaction and the support they provided was invaluable. The Cavendish team, did an excellent job managing the process and ensuring the smooth closing of the transaction in a timely manner. They were always professional and aligned with our shareholder goals – many thanks to the whole team.”


Cavendish Corporate Finance, the UK’s leading sell-side mid-market M&A firm, has advised Annodata Limited, one of the UK’s largest independent providers of document management and ICT managed services, on its acquisition by KYOCERA Document Solutions (“KYOCERA”).

Founded in 1988, Annodata has, through organic growth and a series of acquisitions, become one of Europe’s largest independent vendors of IT, unified communications and managed print technologies with revenues of more than £80m

This highly strategic acquisition significantly increases the capabilities of KYOCERA, adding further value to its already extensive product offering with the addition of ICT services. KYOCERA will draw on the expertise of Annodata to strengthen its Channel Partner Programme offering for the UK & Ireland.

The Annodata brand will continue to exist and will remain a completely separate business entity to KYOCERA with its own independent strategy and management team. Co-founders Andrew and Tim Harman will continue to support the Annodata management team, bringing a wealth of knowledge and customer relationships gained from almost 30 years at the helm of the business. Cavendish Corporate Finance, which advised Annodata on the deal has considerable experience in advising businesses across all sub-sectors of the technology landscape, including the IT services and software sector. Recent transactions include advising on the sale of Reward Gateway, the leading employee benefits SaaS platform, to US private equity investor Great Hill Partners and the sale of Micad to Young Associates.

Andrew Jeffs, Partner at Cavendish Corporate Finance, Commented:

“We are delighted to have advised Annodata on its successful acquisition by KYOCERA at a time when there has been continued interest from overseas technology companies in the UK’s ICT managed services capabilities. This highly strategic acquisition will enable KYOCERA to significantly increase its ICT offering and will provide a strong platform for the business to expand throughout the UK and Ireland. With the resources and support of KYOCERA, Annodata will be able to continue to develop solutions and services tailored to the rapidly changing market needs and ensure that it is well placed to meet growing customer demand.

Cavendish’s extensive network of businesses in overseas markets and geographies means that we were able to assess from both domestic and international buyers to ensure that the best strategic match was made to maximise the value for Annodata’s shareholders”

Meet the deal team

  • Alistair Hay

    Alistair Hay


    +44 (0) 20 7908 6037

  • Ben Goldring

    Ben Goldring


    +44 (0) 20 7908 6025

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