Exclusive Group's majority investor Cobepa is looking to sell its share in the security VAD for more than €1bn, claims financial newspaper Les Echos.
Cobepa snapped up a majority stake in Exclusive Group - then Exclusive Networks - along with Edmond de Rothschild Investment Partners for €350m in 2015, but has now appointed Morgan Stanley and Natixis to facilitate a sale of its stake with "several potential buyers" showing an interest, claims Les Echos.
Speaking to our sister title Channelnomics Europe, Desmond said the search for a new investor for Exclusive Group is already underway.
"We are ahead of plan and the search has started for our next investment partners to continue our journey of hyper growth. This is a normal cycle - but maybe a bit ahead of time due to the continued out performance of the market," he said.
Exclusive Group hit €731m in revenue during the first six months of the year, after sales reached €1.3bn in 2016.
The distributor bought €90m Dutch player TechAccess at the start of last year, and took its first steps into the US through acquiring €230m US security VAD Fine Tec in July. Both distributors share a common vendor partner in Fortinet, and COO Barrie Desmond said there are plans to "look for synergies" with other vendors in the months following the acquisition.
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