Tech Pacific sale rumoured again

Tech Pacific sale rumoured again

Tech Pacific managing director, Kerry Baillie, has sent an email assuring staff that it’s business as usual at Australia’s largest IT distributor.

The memo followed a report in yesterday’s Australian Financial Review suggesting Tech Pac had been put back on the market by venture capitalist outfit CVC less than a year after it had paid Hagemeyer about $200 million for a controlling 58.5 per cent interest. The AFR story cited an overseas financial market journal.

Tech Pac sales director, John Walters, said the first he heard about the alleged sale was when a customer called to alert him to the story. He relayed the news to Baillie, who was travelling interstate, and a ‘business as usual’ message was circulated to staff via email.

More to follow.

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