Rickitt Mitchell completes sale of EAF Holdings to Procurri Corporation
Rickitt Mitchell advised EAF Supply Chain Holdings (EAF), an on-demand provider of information technology spare parts, in its sale to Procurri Corporation. The deal was Procurri’s first acquisition following its listing on the Singaporean stock exchange in July this year.
EAF strategically fits into Procurri’s Independent Maintenance Services business offering under its Lifecycle Services business segment. As a long-standing supplier for Procurri UK’s maintenance services needs, this acquisition will allow Procurri UK to improve its service response time and extend its service coverage through the addition of EAF’s 3 offices in the UK, 55 stock locations and more than 2,000 collect and drop-off points across Europe. Procurri UK will also benefit from the EAF Group’s list of reputable customers, which includes global IT companies and resellers such as HP, IBM, Dell and Fujitsu.
Commenting on the acquisition, Mr Sean Murphy, Procurri’s Global Chief Executive Officer, said,
“We are delighted to announce this acquisition, which gels with our growth strategy and fits seamlessly within our Lifecycle Services business segment. EAFL is a promising company with a proven track record in clinching new deals. This acquisition will allow us to efficiently ramp up Procurri UK’s Lifecycle Services business segment while deriving better economies of scale.
Mr Rob Hall, Managing Director of EAF Group, commented,
“We are delighted to become part of the Procurri Group and participate in its exciting growth journey that is just beginning. As a listed global player in the enterprise hardware distribution and services industry, we believe Procurri has the geographical reach and management capabilities to unlock the true potential of our business.”
Brian Higgins and Robert Bennett of Rickitt Mitchell led the transaction, with Jon Close of TLT Solicitors providing legal advice.Back to news