DCC said DCC Technology, which trades as Exertis, has agreed to acquire Hammer Consolidated Holdings Ltd, a specialist distributor of server and storage solutions to resellers in the UK and Continental Europe.
DCC has agreed to acquire 100% of the issued share capital of Hammer based on an initial enterprise value of £38.3 million.
The consideration will be paid entirely in cash and is structured as an initial payment at completion, followed by earn out payments over three years based on Hammer's future trading results.
The acquisition is conditional, inter alia, on competition clearance from the European Commission and is expected to complete by the end of December 2016.
In its financial year ended 31 January 2016, Hammer earned an operating profit of £6.3 million on revenue of £155.0 million.
Source: Stock Market Wire
Published Date: 14/10/2016
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