Delays in Tech Pac sale announcement

Delays in Tech Pac sale announcement

The acquisition of IT distributor Tech Pacific, forecast to have been finalised and announced by the end of June, will not be made for several weeks.

Both David Cullen, managing diretcor of Tech Pacific and Graham Pickles, chief executive of Tech Pacific's current owner, Hagemeyer Asia Pacific, had originally told ARN previously the sale would be completed by June 30.

A few days short of the deadline, Pickles told ARN yesterday the market should not expect to know who is acquiring the distributor for at least another three weeks.

"It's a long process," he said. "This is a big company and [the aquisition] is going to take a long time to complete."

So far the rumour mill has thrown up a swathe of potential acquirers including other large distributors, venture capital firms and logistics companies but to date Tech Pacific has managed to keep the leading contenders under its hat.

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