DCC plc has agreed to dispose of Altimate Group SA (“Altimate”), DCC SerCom’s Enterprise distribution business, to Arrow Electronics Inc (“Arrow”), a global provider of products, services and solutions to industrial and commercial users of electronic components and enterprise computing solutions.
Altimate sells a range of data management, security and virtualisation software, servers and storage products which are typically utilised in medium-sized and large organisations and Altimate’s customers are principally based in France, Iberia, Benelux and Britain. The enterprise value for the transaction is €48.1 million.
Altimate generated an operating profit of €3.7 million in the financial year ended 31 March 2011.
Tommy Breen, Chief Executive of DCC, said: “The disposal of Altimate is consistent with our strategy to concentrate the focus of DCC SerCom’s distribution activities on its Retail and Reseller distribution businesses, which have strong leadership positions in Britain, Ireland and France and significant opportunities for further organic and acquisition growth.”
Regent Partners LLP acted as exclusive Corporate Finance advisor to DCC.