Introduction
The UK Managed Print Services (MPS) market is currently undergoing a period of profound and accelerating transition. Driven by shifts in working models, declining print volumes, and escalating customer technology expectations, the sector is being reshaped by sustained consolidation as providers seek scale, technological capability, and operational efficiency.
For owners, investors, and leadership teams, this market dynamic creates both urgency and opportunity. Understanding the core drivers of M&A activity and the specific metrics buyers use to assess value has become essential for any organisation contemplating growth, investment, or an eventual exit.
Here, Ian Jones, with over 40 years experience in the Managed Print and Managed Services including involvement in over 25 acquisitions, delves deeper into what this means for the sector. He leads WTA’s MPS practice, which itself is part of the Cloud Service practice which focuses on all aspects of Managed Services MSPs and MSSPs, plus security consultancy, VARs and resellers. Ian joined WTA in November 2025.
Market evolution: from print management to digital enablement
The UK MPS sector has expanded significantly beyond its traditional scope of device and consumable management. Customers increasingly view their print partners as essential components of their modern workplace infrastructure, demanding comprehensive digital solutions that extend into broader IT services.
This evolution places intense pressure on providers:
- Digital Integration – Customers expect support for automated digital workflows and seamless document management.
- Security and Cloud – Robust data protection and deep integration with cloud platforms are now fundamental requirements.
- Sustainability Imperatives – Environmental commitments, including device lifecycle management, recycled consumables, and demonstrable reductions in carbon impact, align closely with buyer ESG priorities and serve as a valuation lever.
Simultaneously, the widespread adoption of hybrid working and a general reduction in office print volumes continue to compress traditional revenue lines. This combination of higher service expectations and lower traditional volumes is the primary catalyst accelerating market consolidation, as only larger providers are well positioned to absorb the necessary technology investment and standardise sophisticated service delivery.
The accelerating consolidation landscape
The UK market is reshaping through three distinct and overlapping consolidation patterns, each driven by different strategic objectives:
- Vertical Expansion: The Shift to Managed Workplace Services – Larger technology service companies are actively acquiring established MPS organisations. The strategic objective is to integrate print management seamlessly with broader Managed IT and workplace solutions, establishing a more comprehensive client offering and reducing vendor fragmentation. Acquirers prioritise businesses that demonstrate capabilities beyond print, such as workflow automation, IT services, cloud integration, and information security.
- Horizontal Growth: Achieving Scale and Efficiency – Mid sized MPS providers continue to pursue traditional horizontal growth by purchasing regional competitors. This strategy is focused on expanding geographic footprint, achieving critical economies of scale, and standardising service delivery across a wider client base.
- Private Equity (PE) and Roll Up Strategies – The sector remains highly attractive to private equity due to its strong profile of recurring revenues, high retention rates, and clear opportunities for operational uplift. PE investors are often pursuing aggressive roll up strategies to build market share rapidly, aggregating smaller platforms to create a large entity with stronger future exit routes.
- Tuck in Acquisitions – Smaller, well run businesses are frequently targeted as “tuck in” acquisitions. Organisations with revenues in the £1–5 million range are commonly absorbed primarily for their resilient customer bases and contracts.
- Cross border Activity – International investors are increasingly active, seeking a stable foothold in the UK’s mature yet fragmented market.
Key Drivers for Buyers: Value and Benchmarks
Valuation in the modern MPS market is increasingly polarised. Well run, digitally enabled providers command premium multiples, while legacy operators that lack investment face challenging valuations. Five key drivers consistently shape buyer assessments:
Market trends reshaping valuations
Digital Services– Acquirers seek capabilities beyond print: workflow automation, IT services, cloud integration, and security.
ESG Priorities – Environmental commitments, including device lifecycle management, recycled consumables, align with buyer values.
Valuation Gap – Digitally-enabled providers command premiums while legacy operators face challenges.
Strategic preparation: the hidden value drivers
Buyers assess much more than just the financial results. They rigorously evaluate the operational resilience, cultural fit, contract quality, and the ease with which a business can be integrated into their portfolio. For leadership teams preparing for a sale whether imminent or within a three to five year horizon addressing subtle, non-financial factors is critical to maximising outcomes.
Key focus areas for preparation include:
- Contract Hygiene – Ensuring clean, well documented agreements with clear terms, renewal provisions, and a focus on long term stability.
- Operational Clarity – Documenting consistent service delivery processes, mature internal systems, and establishing strong operational resilience.
- Technology Narrative – Articulating a clear roadmap that demonstrates digital capability and an investment trajectory that aligns with market trends.
- Customer Positioning – Demonstrating a diversified revenue base and strong retention metrics that assure revenue stability.
- Management Strength – Implementing robust succession planning and ensuring leadership depth to reduce transition risk for the acquirer.
Addressing these factors early enables leadership teams to present a clear, confident, and compelling value story, which is often the differentiator between an average exit and a truly exceptional one.
Conclusions
The UK MPS market is rapidly consolidating, driven by the relentless forces of technology expectations, shifting customer demands, and the economics of scale.
Organisations that blend strong core MPS capability with proven digital innovation, disciplined operations, and clear forward planning consistently achieve the best outcomes and command premium valuations. Leaders who proactively strengthen their contracts, document processes, develop a technology roadmap, and articulate their strategic value story will be best positioned for growth, investment, or exit in this highly selective market.