Warwickshire, UK, 2-5-2014 — /EuropaWire/ — Rigby Group (RG) plc has agreed to the sale of the Dutch division of its technology business SCC to North American based Systemax (NYSE: SYX). The transaction is subject to regulatory approval and is due to complete in May 2014.
The family owned and operated Group, which is focused in six core areas: technology, airports, hotels, real estate, finance and aviation, is selling its Utrecht-based operations which it acquired in 2000.
The sale to Systemax – a Fortune 1000 company and leading reseller of product and services- is part of SCC’s strategy to focus on its core markets of the UK, France, Spain and Romania while continuing to re-position as a services-led technology company.
James Rigby, SCC CEO, said: “The sale of our Dutch SCC division follows our strategy which has seen us successfully focus on strengthening and expanding our offering across our key countries. As a business, we have moved to a services-led sales and delivery model and this has proved a very successful transition in our core countries
“We expect this year to be a record in terms of revenue with double digit growth anticipated. This has been driven by some notable contract wins.”
The sale is the second transaction for SCC in 2014following on from the acquisition earlier this year of M2 Digital, the UK’s leading independent managed print services company. This transaction is Rigby Group’s 3rd M&A deal in 2014.
Steve Rigby, Rigby Group COO, commented: “Following the sale of our distribution interests in 2012, the Dutch business was sub scale for SCC’s stated objective of being a market leading in its core geographies. This sale allows SCC to focus on its core markets and this will be further demonstrated with strategic and niche acquisitions during 2014.”