Evesham on brink of sale as directors exit

The sale of Evesham Technology appeared imminent as CRN went to press, with TimeUK believed to be the front-runner.

This follows the departure of four directors from the system builder.

The board of Evesham was originally five strong with chairman Richard Austin, non-executive director Bill Joss, procurement director Shaun Morris, managing director Brad Walker and finance director David Hards.

Records obtained by CRN from Companies House show documents were filed on 26 June for four directors’ resignations. Austin is now listed as both company secretary and director, although this is in conflict with the Companies Act. According to Section 283(1) of the Act, every firm must have a company secretary, but a sole director cannot act as secretary as well.

Martin Prescott, managing director of VAR Red PC Services, said: “Unless Austin has imminent replacements in mind, the signals are that he’s already done a deal for the sale of the firm.”

CRN understands the owners of TimeUK.com have shown interest.

Following the demise of Granville Technology Group in 2005, the parent company of Time and Tiny, founders Tahir Mohsan and Tariq Mohammed resurrected the Time brand under the guise of Time UK Factory. This is now known as TimeUK.com and owned by a company called Digital World Group. Both Mohsan and Mohammed are believed to have been spotted at Evesham’s premises in recent weeks.

Eddie Pacey, director of credit services EMEA at distributor Bell Micro, said: “I’m not sure in the long term if [buying Evesham] would benefit [TimeUK]. They would probably be interested in the brand name and certain product lines.”

Both Eversham and TimeUK were unavailable for comment.

Speculation mounts as Evesham ponders sale