Hitesh Mehta, the former MD of Merisel and director of failed consultancy RCMS Computing Services, has resurfaced at distributor Fayrewood, a holding company of audio equipment distributor Expotus.
Mehta intends to embark on a series of acquisitions following Fayrewood?s recent purchase of French distributor Banque Magnetique for #2.56 million plus a deferred payment of #1.33 million.
Mehta left Merisel in March 1994 because of ?irrevocable differences?. A 15-month legal wrangle with the distributor followed, resulting in an out-of-court settlement.
Mehta, who was employed by Merisel through his consultancy, Mehta Management Initiatives, issued a writ alleging that the distributor had breached an agreement and was seeking #300,000 compensation.
He then became a director of RCMS, which went into receivership last year (PC Dealer, 25 September 1996) several months after buying document management firm NBI. The firm?s stated ambition was to grow through acquisition.
Fayrewood chairman Pierce Casey said Mehta?s experience would help the firm achieve its ambition of becoming a pan-European niche distributor and the acquisition of Banque Magnetique was the first step.
Mehta came on board as managing director to help with the acquisition. It is understood that Mehta is planning on making another four acquisitions in the next two years.
Casey said: ?We plan to expand by acquiring companies in Europe.?
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