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.
Over 45 years of trading history with solid customer base in the housing sector. Highly regarded for service delivery excellence and innovation in their field. Strong management team able to transfer to new owners. Highly skilled team with emphasis o...
An established & successful Chartered practice which is audit registered wishes to expand their fee base so as to enable the infrastructure necessary for MTD. Although the Purchasing firm’s premises have spare capacity, retention of a satellite offi...
Staff and rented premises to be retained. Good location with parking. Not regulated but employs qualified staff. Established over 30 years. Grown organically and by reputation. Offers invited.
|
09
|
|
Dec
|
Scunthorpe construction group call in administrators | ADMINISTRATION
Scunthorpe-based Clugston Group and Clugston Construction ha...
|
06
|
|
Dec
|
KPMG agrees to sell pensions arm | DIVISION SALE
Professional services network KPMG has announced that it has...
|
05
|
|
Dec
|
What a Labour government would mean for UK entrepreneurs | BUSINESS NEWS
Private business mergers and acquisitions expert Sue Green o...
Sign up to receive our acquisition alert emails to get your FREE guide
|
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