Bridgepoint exits office supplies group OyezStraker

Hermes Private Equity has backed an €80m management buyout of UK office supplies company OyezStraker Group from Bridgepoint.

Bridgepoint said it has made a 3x return on its investment, which began in 1993 when it acquired Straker Office Supplies and continued in 1995 when it purchased Solicitors Law Stationary Society (Oyez.) In 1997 the two companies merged to form OyezStraker.

It marks Hermes’ third investment from its buyout fund HPEPI, which had a first close in Q4 2003 on £200m. In December it acquired Walbrook, a Channel Island’s-based arm of Deloitte’s, and in February it bought Merlin, a European attractions operator.

Bridgepoint was the principal shareholder in the group with the rest being held by management from Straker and Oyez.