Thu, 08 Aug 2019 | BUSINESS SALE
Arrow recently announced its intentions of winding down its PC and mobility asset disposition business in the US, UK, Sweden and Belgium, with reports suggesting that it plans to close the enterprise part of its unit as well.
The company has also stopped accepting devices to its facilities, with the winding down process expected to be completed by the end of 2019.
Charles Bligh, the CEO of AIM-listed Restore, has revealed that he approached Arrow with the intention of buying its asset disposal (ITAD) unit, but is yet to hear back on the offer.
However, since being thanked for taking an interest in the company on the day of the announcement, Bligh revealed that he had heard nothing back.
"I don't know whether they want to sell it or shut it down," he said. "We approached them and they just said ‘thanks for the interest, we are working through it' and that they would make sure to keep us in the know."
Bligh has suggested that the delay in replying could be down to the announcement coming as a surprise to the business, which he suggests could be worth around £20 million and be an exciting prospect for the right buyer.
"We are interested in most of the unit at this point in time," he added. "I would encourage Arrow not to take too long, given the fact that their staff are going elsewhere. I'm interested in buying it as a going concern and would be interested in taking people on."
But in spite of Bligh's interest in the Arrow business, Mike Norris, CEO of Computacenter, has suggested that it's possible a deal between Arrow and Restore will not eventuate, leaving the door open for any other companies looking to purchase any or all of the unit.
Operates on a national basis, predominantly working with major clients in the healthcare, local government and pharmaceutical markets.
LEASEHOLD
Provides detailed cost and contractual advice for construction projects across a diverse range of sectors, operating in Scotland and England.
LEASEHOLD
Provides structural consultancy services for a range of projects including new builds, conversions, refurbishment, extensions and alterations of commercial, industrial, educational, health sector and domestic buildings. Services also include investig...
LEASEHOLD
|
16
|
|
May
|
Manx Financial Group to acquire Payment Assist in potential £9m deal | BUSINESS SALE
Manx Financial Group Plc has announced the acquisition of Pa...
|
13
|
|
May
|
Assets set to be sold as modular housing joint venture enters administration | ADMINISTRATION
The US House Group modular housing joint venture has fallen ...
|
12
|
|
May
|
Bathroom panel firm acquired for up to 9.1x EBITDA | BUSINESS SALE
Bathroom and kitchen products firm Norcros has agreed a deal...
Sign up to receive our acquisition alert emails to get your FREE guide
|
18
|
|
May
|
Arrow Business Communications makes fourth acquisition since PE investment | BUSINESS SALE
Business telecoms firm Arrow Business Communications has ann...
|
30
|
|
Apr
|
Digital records company sold at more than 22x multiple | BUSINESS SALE
EDM Group, a Wolverhampton-based digital records firm, has b...
|
22
|
|
Apr
|
Restore buys fellow document manager Magnum Secure | MERGER
Record manager firm Magnum Secure has been purchased by supp...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources