5 February 2007 — Surrey Quays (London): Following OPI‘s news of Jet UK going into administration last week, a new name in the office products market, Concord Office Products, has been formed.
The formation was made possible from investment by David Mills who has purchased the assets of Jet UK. Mill’s background has been in the world of banking with 18 years of experience with both Lloyds and National Westminster banks. Mills chairs a number of businesses representing both his own investments and also the interests of other funders.
In a statement, a spokesman for the company, said: "The new management team believe that it will be business as normal even though initially the support of suppliers and customers will be vital, as there will be many challenges over the forthcoming months."
A new management structure has been implemented, which sees Mills as chairman, Chris Manley assuming the role of managing director and Kevin Allen as board director.
In a statement, Manley said: "This has to been seen as a very positive step. Concord is a great name with a long and proud heritage in the UK office products market. I am convinced Concord Office Products will be a great company with a real future."
He added: "This has been a very difficult time for all involved and it is with great regret that this situation has occurred. We have to thank the support of our suppliers, customers and not least of all our staff. However we are now faced with a new opportunity and a very positive framework for the future."
An insider familiar with the takeover described the deal to OPI as "a long and drawn out process".