Acal has signed an agreement to acquire the entire issued share capital of BFi Optilas. The Acal Group is a European technology-based distributor providing sales, marketing and other services through three divisions: electronics, supply chain and medical. BFi Optilas, a specialised distributor of electronic and photonic components, modules and systems across Europe, will be acquired for a consideration of €10m payable in cash and 2 million Acal ordinary shares to be issued on completion.
Nick Jefferies, chief executive of Acal, said: 'I am delighted to announce the acquisition of BFi Optilas, which is a key step in our stated strategy of specialisation. By bringing the two businesses together, we are creating a clearly differentiated specialist, providing electronic and photonic products and services to over 14,000 customers across Europe. This transaction creates the scale required to succeed in the key European markets, and enables substantial operational synergies.'