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Exertis forks out £110m for double acquisition

Manny Pham
July 13, 2018

Kondor will resume operations with its 250 members of staff

Exertis parent firm DCC has made two acquisitions today (July 13). UK mobile accessories distributor Kondor and US-based audio-visual distributor Stampede for a combined £110m.

DCC expects the acquisitions to generate a return on capital of 15 per cent (£16.5m) in the first full year of ownership.Exertis is the technology arm of DCC, both firms will fall in line with Exertis’ operations.

Dorset-based Kondor will resume operations with its 250 staff, as previous financial backer H.I.G Capital vacates for DCC.

Kondor distributes phone cases, bluetooth speakers, headphones and wireless chargers to name a few. It has retail deals with 250 retailers, including: EE, O2, Carphone Warehouse, John Lewis, Amazon, Tesco and Argos. Kondor holds the exclusive right to distribute Samsung accessories in the UK. Kondor generated revenue of £110 million in the year ended 31 December 2017.

Stampede is headquartered in New York and is DCC’s first on US soil. The US firm recorded revenue of $280m (£212m) in the year ended 31 December 2017 and employs approximately 210 people.

Technology distributor Exertis reported £3.08bn in revenue and an operating profit of £47.8m for the year ending March 31, 2018. DCC generated revenue of £14.3 billion and operating profit of £383.4 million for the same year.

‘Strong position to grow’

Kondor CEO Beatrice Lafon said: “This acquisition provides opportunities for both companies to offer an even more competitive range of consumer electronics accessories and services to retailers across a wider geographical footprint as we continue to expand into new territories.”

Exertis managing director Gerry O’Keeffe said: “Kondor has an excellent track record in the retail industry providing a range of services that include: category management; R&D and sourcing; marketing and e-commerce for their vendors and customers. Their penetration into the European and Asian retail market will be a valuable asset as we look to extend our portfolio and presence in these areas.”

DCC chief executive Donal Murphy added: “The acquisition of Stampede significantly strengthens DCC Technology’s position in the attractive and growing Pro AV market and also provides DCC Technology with a platform for growth and development in North America.”

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