Acquisition of Service Source

RNS Number : 4542Q

Acal PLC

09 April 2009

 



FOR IMMEDIATE RELEASE

09 APRIL 2009

ACAL PLC ("Acal")

(Leading pan-European, value-added technology based distributor
providing specialist design-in, sales and marketing services)

ACQUISITION OF SERVICE SOURCE EUROPE LIMITED ("SSE")

Acal announces that its subsidiary, Acal Supply Chain Limited ("Acal Supply Chain"), has today acquired the remaining 25 per cent. of the issued ordinary shares in SSE for a cash consideration of £1,000,000. 

As announced on 12 January 2009, Acal Supply Chain initially acquired 75 per cent. of the issued ordinary share capital of SSE on 9 January 2009, which it has since operated and managed together with Acal's other parts services businesses. The remaining 38,343 ordinary shares in SSE have been acquired from Jonathan King, George Buchan, Mark Hesketh, James Bruce, Robert Hall and The RMP Investment Partnership.

SSE's principal activities relate to the movement of service spares, and its main area in terms of product is the PC market, including related products such as laptops, servers, printers and more recently mid-range and high-end Unix services and storage systems.

For further information, please contact:

Acal plc
Nick Jefferies Chief Executive               Tel: [phone]
Malcolm Cooper - Finance Director      Tel: [phone]

Cubitt Consulting

Brian Coleman-Smith                            Tel: [phone]

James Verstringhe

Notes to Editors:

Acal is a leading European value-added distributor providing specialist design-in, sales and marketing services for international suppliers in the fields of Electronic Components, Supply Chain Services and Medical and Scientific products. Organised into three divisions, Acal has 15 principal trading companies of which 8 are in Continental Europe and 7 in the UK.

Acal is now Europe's strongest multi-disciplined design-in electronics distributor and has always differentiated its offering with a strong focus on demand creation and a highly skilled technical sales force. Vertec Scientific, which operates in both the UK and South Africa, represents leading manufacturers in the field of bone densitometry, medical imaging and diagnostics. The Supply Chain division provides spare parts to field services organisations and is a supplier to virtually every leading company in that market.

 

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