Component distributor business for sale

Tue, 23 Sep 2008

UK-based component distributor, Abacus Group plc, has received a number of approaches for the company as it warned of difficult market conditions and falling sales.

Abacus has appointed HSBC bank to handle the potential sale of the group.

The potential bidders have not been named. It is thought, however, that major U.S. owned companies, such as Arrow, Avnet or Future Electronics are interested.

Abacus and its divisions provide electronic component distribution, own brand product, specialist distribution of displays, embedded computing and wireless communications, as well as value-added services.

The company owns several businesses including Trident Displays, Abacus Embedded and Alpha 3 Manufacturing.

Underlying profits for the six months to March 31 fell from £6.8m to £4.5m, and borrowings rose £3m to £62.9m.

Established in 1972, Abacus has over 40 offices and five warehouses in 11 countries throughout Europe, and employs over 1,100 staff.