The sale of Commander’s telco assets to the newly formed Commander Telecom Group has collapsed.
The embattled ASX-listed integrator’s employees and Commander Centre franchise owners were informed by receivers, McGrathNicol, on January 27 by letter that the deal had fallen through.
According to ARN sources, the receivers have been unable to secure a commercially agreeable arrangement between the CTG consortium and Commander’s key suppliers.
McGrathNicol is now re-evaluating shortlisted bids to find another buyer and back in discussions.
A spokesperson for McGrathNicol confirmed the business was back up for sale but refused to disclose further details.
The Commander Telecom Group (CTG) was formed in November, just days before it purchased Commander’s telco assets. As part of the agreement, CTG planned to take on 400 staff as well as retain core telecommunications products and services and the Commander Centre franchise network. The deal was due to be completed on December 5. Details about the local and international investors behind the CTG consortium, however, remain scarce.
McGrathNicol was appointed receivers to Commander on August 7 and quickly initiated plans to sell the business in two parts: Its telco division, as well as its managed and professional services business. In November, Northern Territory-based integrator, CSG, acquired Commander’s managed services business including its Group 8 Federal Government contracts and 220 staff.
In December, ASX-listed services provider, Hyro, also picked up select Commander managed services contracts worth about $3 million per annum.
But former PC assembly stalwart and Commander subsidiary, Ipex, was wound down after receivers failed to find a buyer.