Sentryst close to asset sale
Three parties express interest in buying distributor's assets
The liquidator of niche security and connectivity distributor Sentryst is close to selling the assets of the company, CRN has learned.
As revealed by CRN earlier this month, Wokingham-based Sentryst went into voluntary liquidation after seeking advice from advisory firm ChannelMoney. At the time managing director Alan Reid cited margin pressure as the main contributor to its collapse.
The firm had a reseller base of about 140 and partnered with vendors such as St Bernard Software, Clavister, Attachmate and Cibecs.
Nitin Joshi, founder of ChannelMoney, said: “We had three parties that expressed an interest in the assets of Sentryst, which include the company name, web site and goodwill of the customer base.
“We have now whittled that down to one interested party and expect to close the sale within the next week.”
Joshi said the interested party was another UK distributor, but declined to reveal further details.
Ian Kilpatrick, chairman of rival security distributor Wick Hill Group said: “Sentryst had a good connectivity customer base, which would be good value for a firm looking to bring similar products to market.”