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.
This established IFA is assigned to one major platform ensuring a very smooth transition of client assets.
This is a highly profitable business with EBIT percentage of 33%, meaning money can be recouped quickly after a purchase.
With advisers and back-office staff in place, this business can be purchased and will keep running efficiently.
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