Acquisition of Euro-­‐Tech (Export) Limited by APC Technology Group PLC

APC Technology Group PLC (“APC”), the provider of design-­‐in, specification and distribution services for specialist electronic components and systems, lighting technologies and connectivity products, is pleased to report that it has completed the acquisition of Euro-­‐Tech (Export) Limited (“Euro-­‐Tech”), a distributor and international reseller of electronic components.

Euro-­‐Tech sources and supplies a wide range of active, passive and electromechanical components, industrial products and consumables from major global manufacturers and quality assured sources across Europe to blue chip OEM and CEM customers around the world.

Euro-­‐Tech’s products and services are complementary to APC’s Locator business and will significantly enhance APC’s capability in the sourcing of hard to find or obsolete and end of life components, products and systems. The previous owners and founders of Euro-­‐Tech, Chris Smallwood and Phil Hutchins, will continue to work within the business.

Chris and Phil were advised by Peter Counsell of Meta Corporate Finance Limited (“Meta”) in the sourcing, negotiation and execution of the transaction.

Richard Hodgson, CEO of APC, commentted:

“Our strategy is  built  on  three  main  growth  drivers:   increased bookings from our existing technologies; the signing of new complementary product lines; and through targeted bolt-­‐on acquisitions.

The purchase of Euro-­‐Tech is our fourth acquisition in 18 months and I am delighted to welcome Chris, Phil and the Euro-­‐Tech team to APC.  Combining Euro-­‐Tech’s capabilities alongside our APC Locator business will provide a significant boost to our offering in the growing market for the sourcing of hard to find and obsolete electronic components and products. It will also provide us with opportunities to sell our UK business into a broader customer base and provide our other international franchises with opportunities in a wider global marketplace.”

Chris Smallwood, Director of Euro-Tech, commented:

“Phil and I are delighted to join APC and we expect that the acquisition will be very positive for both the Euro-Tech team and for APC.   Whilst Phil and I have been in business together for decades, this was our first time venturing into the corporate marketplace.  It was very important for us to find an acquirer that shared a similar business ethos and where the Euro-Tech team and business could thrive.   Working with Peter Counsell at Meta, we identified those requirements as critical to the way in which we would research the marketplace and subsequently approach APC as a likely acquirer.  We are both very grateful to Peter for his experience and guidance in the sale – it is an incredibly demanding process and I doubt that we would have had a successful outcome without his advice.”