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Brabners Chaffe Street advises Manchester IT distributor on £1.85M sale
9/01/2009

Law firm Brabners Chaffe Street has advised the shareholders of Service Source Europe, the Warrington based global distributor of IT service spares, on the £1.85m sale of a 75 per cent shareholding to ACAL plc.

Service Source Europe, which was the subject of a management buyout in March last year from Flextronics, will continue to operate as part of Acal Supply Chain Limited - a newly incorporated subsidiary of Acal plc.

Founded in 1986, Acal is a leading player in the distribution of electronic components, IT parts services and medical and scientific products, providing value-added services such as design, technical support and sales and marketing. It employs 750 people at offices in the UK and Continental Europe.

The acquisition, which has now received full shareholder approval, provides Acal with the expertise to implement and manage large scale and complex supply chain solutions, which the Acal board believes will both stabilise and enhance the position of its existing Parts Services division.

The advisory team at Brabners Chaffe Street was headed by Mark Brandwood and assisted by Jamie Partridge and Leo Carroll.

Mark Brandwood, managing partner of Brabners Chaffe Street in Manchester, said: "Service Source Europe is a quality business with a highly experienced management team. The sale of a majority shareholding to a global plc like Acal is an excellent outcome for shareholders, employees and customers, creating an enlarged grouping with considerably enhanced buying power and scale."

He added: "Many company owners are delaying plans to dispose of their businesses due to difficult credit markets and weak confidence. However there remains a population of ambitious, well-funded companies looking for strategic acquisitions and an appetite for the right quality of asset."

ENDS

Issued on behalf of Brabners Chaffe Street by Citypress.

Press information:

Martin Currie, Neil Bradley or Katie Colledge
Citypress
T. 0161 235 0300
E.firstname.surname@citypress.co.uk


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