Exclusive Networks has now confirmed the interest from private equity and confirmed rumours that it might be going private.
“Exclusive Networks confirms receipt of a non-binding indication of interest from a consortium of investors led by Clayton Dubilier & Rice and the Company majority shareholder Everest UK Holdco Limited (an entity controlled by Permira), at a price of EUR24 per share,” it said in a statement.
“There can be no certainty at this stage that these discussions will result in any agreement or transaction, or as to the terms, conditions, and timing of any transaction.”
Permira first invested in Exclusive in 2018. Following the distributor’s IPO in 2021, Permira held 55.2 per cent of the capital and voting rights in Exclusive Networks.
The distributor’s Q1 2024 results showed a 6.4 percent increase in gross sales to €1.26bn (£1.07bn), with EMEA continuing to be its most significant growth driver.
Hardware sales decreased to 24 per cent of the group’s sales (vs 27 per cent in Q1-23), software was 50 per cent (vs 47 per cent in Q1-23), and support & maintenance stood at 26 per cent (26 per cent in Q1-23).
Cloud accounted for 34 per cent of Exclusive’s sales in Q1-24, up 6 points compared to Q1-23, in line with its digital growth strategy.
