Computerlinks weighs up private equity offer

Barclays Private Equity tables friendly bid for pan-European security distributor

Written by Doug Woodburn

Pan-European security distributor Computerlinks is mulling over a €104m (£82m) takeover approach led by Barclays Private Equity.

Platin, an acquisition company in which Barclays is the majority shareholder, last night said it intended to offer Computerlinks' shareholders €15.50 per share in a voluntary tender offer.

This represents a 38.9 per cent premium on Frankfurt-listed Computerlinks’ share price. The distributor said it is “positive” about the offer and would “examine it thoroughly”.

Barclays Private Equity has stressed it wants to support Computerlinks' long-term development both through organic growth and strategic acquisitions. As one of Europe’s largest niche distributors, Computerlinks posted revenues of €469.1m last year.

“In the context of the company’s further development and its plans for international expansion, the management board of Computerlinks AG, in principle, welcomes the commitment of a financial investor experienced in the field of medium-sized German companies,” said Computerlinks in a statement.

“The management board has therefore decided, in the interests of the company, its shareholders and its employees, and after having consulted the supervisory board, to thoroughly examine the offer announced by Barclays Private Equity.”

The takeover is subject to the condition of a minimum acceptance rate of 75 per cent and the approval of the relevant regulatory authorities.

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