Thirteen prospective buyers are racing to pick up the UK arm of networking distributor Globelle as the sale nears completion in the next six weeks.
Mark Hatton, Globelle UK?s managing director, said the distributor was in the due diligence stage at the moment with prospective partners but refused to comment on which companies were interested.
Sources have said rival UK networking distributors and German players have expressed an interest in Globelle.
Hatton maintained that 13 companies were interested and three companies had already inspected the distributor?s books. Hatton said he was expecting to remain with the distributor for the foreseeable future in spite of the prospective purchase.
It is expected that the due diligence stage will be completed in the next two weeks and a deal should be concluded within six weeks.
Kevin Dowd, president of Globelle, who is overseeing the sale, said Globelle had attracted interest from companies in the US, the UK and Europe. He denied that a UK management buyout was taking place.
The sale comes in the wake of the deal with SED International to purchase its fixed assets and vendor authorisations in the US, announced at the end of last month. The company has also agreed a credit facility with General Electric Capital Canada, worth C$60 million, to run for three years.
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