Synergy the key for new BusyComm
Equipment in a row over the company's future, he finds himself back -- this time as owner.
But sentiment did not play a part in the purchase of Office Equipment by telecommunications firm BusyComm, in which Mr. Brashier owns a majority stake.
"Nostalgia had nothing to do with it,'' said Mr. Brashier. "This makes good business sense.
Mr. Brashier vowed to turn around Office Equipment's fortunes which have suffered since Purvis Ltd. decided to liquidate its group of companies following the group's loss of $2.8 million for fiscal 1991.
"The directors of BusyComm are confident that they have identified a business, seemingly to have been excluded from the strategic objectives of its owners, whose core activities will dovetail neatly with those of their own company,'' he said.
"With the management expertise and control BusyComm offers, it is hoped Office Equipment will once again become a profitable company.'' Office Equipment will become a subsidiary of BusyComm once the deal becomes effective at the turn of the year.
The takeover will lead to significant savings of cost for the combined operation and will enable BusyComm to develop into new markets, said Mr.
Brashier.
"There is little overlapping of products and services and this allows us to carry out enormous dovetailing of activities,'' he said.
"Initially the two companies will continue to operate under their own names even though there will be an immediate merging of facilities and supporting operations.
"It's anticipated that the resulting synergy will benefit all customer services and marketing operations.'' Both companies are in the business of supplying goods and services to the corporate market in the field of communications.
BusyComm specialises in telecommunications, whereas Office Equipment has built a niche in the visual communications area of office systems, dealing with word processing, photocopying, facsimile, printing and machine supplies. The service and engineering divisions of both companies will be integrated under one roof at BusyComm's current premises at Victoria Street.
There are plans to open a small retail outlet in June, 1993, although this may be brought forward if suitable premises can be found.
BusyComm is taking on ten of Office Equipment's staff, with more staff being re-employed by Midsea, which is buying the inventory of the office supplies division of Office Equipment.
BusyComm was founded by Mr. Keith Clifton, who is currently the firm's president, and Mr. Ken Elkins in 1983 to service the corporate community's PC and data communication needs and offer third party maintenance.
Since then, the company has branched out to an extent that it is regarded as the only full-service competitor to the Bermuda Telephone Company in the field of telecommunications.
Mr. Brashier added: "The new organisation intends to take a focussed, efficient and profitable approach to the consolidated operation.'' BusyComm's board of directors will be expanded and training programmes for employees will be implemented, he said.
