Das acquires the taste for dealers

Swanfast is one of the names being bandied about as Das Securitiesgets bitten by the buyout bug

Glasgow-based Apple Var Das Securities will take over several Apple resellers before the end of 1996. Das has been linked with rival dealer Apple Centre Swanfast, which has put a mystery takeover offer in front of its shareholders.

Das has pledged to acquire five dealerships within the next three years and is looking for sites in Scotland, the North West, the Midlands and the South.

Swanfast is seeking outside investment in the wake of tough financial conditions (PC Dealer, 31 July). David Jesner, proprietor of Das Securities, refused to discuss the London-based dealer. 'I can't talk about Swanfast,' he said. 'I wouldn't talk about any companies we were in discussions with.'

One industry source said Swanfast was negotiating with two companies, but was unable to name the potential buyers.

Swanfast company secretary Alison Pomfret confirmed that a verbal offer had been made, subject to shareholder approval. 'It should go through at the end of the month,' she said. 'I cannot disclose who it is, except to say it is someone within the Apple industry.'

Jesner said Das was looking to expand soon. 'I will be very disappointed if we have not got two in the bag long before November, as we are talking to two companies at the moment.'

Jesner insisted that his company should buy now, despite the depressed climate in the Apple channel. 'We are very bullish about what we do. We have been thinking of expanding for a while and the timing to buy is superb because the Apple world has been written off by outsiders.'

He declined to reveal the company's turnover, but said he had more than u1 million in the bank to spend on acquisitions.