Acal PLC
24 April 2002
FOR IMMEDIATE RELEASE 24 APRIL 2002
ACAL plc
(A leading pan-European, value added distributor providing specialist design-in,
sales and marketing services for international suppliers)
Acquisition of ATM Parts Company Limited
Acal plc announces the acquisition of the whole of the issued share capital of
ATM Parts Company Limited ("ATM"). ATM's principal activity is the distribution
of spare parts for automated teller machines or cash dispensers and it is based
in Church Crookham in Hampshire. During its financial year ended 31 August
2001, ATM had sales of £9.1million and profit before taxation of £1.3million.
At that date its net tangible assets amounted to £3.2million.
The initial consideration of £8.0million is payable in cash on completion, which
takes place today. Two further amounts may be payable depending on ATM's
performance during each of the years ending 31 August 2002 and 2003. These two
further amounts are to be satisfied by the issue of loan notes by Acal plc and
are not to exceed £2.5million and £1.5million respectively.
Commenting on the acquisition, John Curry, Chairman of Acal plc, said:-
"ATM has established an outstanding reputation and record in a growing market
and is complementary to Acal's IT Parts Services business. We look forward to
working with Michael Thornton and Ian Morris who will continue to manage the
business following the acquisition."
For further information:-
John Curry Chairman 01483 544500
Jim Virdee Finance Director 01483 544500
Brian Coleman-Smith / Amanda Sheehy 020 7786 9600
Binns & Co. Public Relations
Notes to Editors:-
1 The Acal Group is a leading European, value-added distributor providing
specialist design-in, sales and marketing services for international
suppliers in the fields of Electronic Components, Information Technology
Products, IT Parts Services and Industrial Controls. Its value-added
philosophy and geographic coverage enables Acal to provide specialist
knowledge and support to customers on a pan-European basis.
2 Design-in is the process by which Acal's sales engineers work with
customers and suppliers to procure components which meet the specific
technical and performance needs of the customers.
3 Acal has operating companies in the UK, Netherlands, Belgium, Germany,
France, Italy, Scandinavia and the USA.
This information is provided by RNS
The company news service from the London Stock Exchange
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