New owner for Peterborough-based office design and supplies company

Walters, in Royce Road, Peterborough, has been acquired by Ethos.

Walters, in Royce Road, Peterborough, has been acquired by Ethos.

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A Peterborough company set up 56 years ago has just been bought for an undisclosed sum.

Office design and supplies company Walters, of Royce Road, has been acquired by the London-based Ethos.

Walters was created in 1959 and serves more than 1,000 customers with sales reaching more than £4.6 million last year.

The firm specialises in business supplies, office interiors and equipment.

Mike Walters, Walter’ managing director, said: “Joining Ethos will enable us to extend our reach and capability as we continue to trade successfully from our existing premises.

“Most importantly, our customers and staff can be assured of business as usual whilst benefiting from our additional capability.”

Paul Norris, Ethos’ group managing director, said: “This is a very exciting acquisition for us and is a key part of our strategic growth plans.

“It brings considerable opportunities across the combined business in our core print and telecoms operations and will add a successful supplies and office furniture division to our solutions portfolio.

He added: “As result of this acquisition we expect group turnover to increase by at least 25 per cent within the current fiscal year.”