Computers: Exertis parent company acquires Computers Unlimited in £24m deal

Exertis parent company DCC has acquired distributor Computers Unlimited for an initial enterprise value of £24 million.DCC Technology, a division of DCC that includes supplier Exertis, has acquired the consumer electronics distributor which operates mainly in the UK but also has operations in France and Spain.In its latest financial statement, DCC said that Computers Unlimited has annual revenue of approximately £140 million and is focused on the 'connected home' and professional design market."The Computers Unlimited business distributes a range of products that are complementary to those distributed by Exertis, including design software, printers, accessories and premium audio systems," DCC said in a statement.The deal was completed this month. It comes after DCC acquired Swedish tech distributor CapTech last September.In addition, DCC Technology has announced plans to develop a new purpose built 450,000 sq ft UK national distribution centre.The company says it will be located close to the majority of its existing facilities, and will "consolidate the activities" of most of its seven existing warehouse facilities, "and provide capacity for further growth".The relocation to the new facility will be conducted on a staged basis and will begin in the year ending March 31st 2017. The capital expenditure relating to these developments is of the order of £55 million, most of which will fall in the year ending March 31st 2016."Following the completion of these projects, apart from the capacity increases and cost efficiencies that should be generated, a significant proportion of this expenditure is expected to be recouped from the disposal of the existing facilities owned by DCC Technology and from improvements in working capital," DCC confirmed.For the year ending March 31st 2015, DCC operating profit rose 10.5 per cent year-on-year to £221.7 million. Revenues fell four per cent overall to £10.6 billion.Operating profit within DCC Technology rose 2.6 per cent to £49.3 million during the year.PCR has reached out to Computers Unlimited, Exertis and DCC for comment.