Westcon secures funds for Euro acquisitions

Westcon Group has raised the spectre of further European acquisitions after bolstering its European war chest by €45m.

The distributor has secured a new facility led by HSBC, drawing on the accounts receivables of Noxs the distributor it bought last year.

Westcon said the liquidity boost will allow it to pursue organic and acquisitive growth. Last year, it acquired Noxs and Crane and entered the Middle East and Turkey.

Simon Minett, chief operating officer of Westcon Group Europe, said: “If we decided to look at expansion into other new technologies or geographical expansion, we would consider using the HSBC facility to support our growth.”

Nigel Hawthorn, vice president of EMEA marketing at security vendor Blue Coat, said: “This shows the growing trend towards consolidation in the distribution channel.”