Barclays Private Equity announces tender offer for COMPUTERLINKS AG
- Barclays Private Equity (BPE) offers to the COMPUTERLINKS shareholders EUR 15.50 per share in the context of a voluntary public tender offer pursuant to §§ 29 et seq. Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG) and is aiming for a minimum acceptance rate of 75 percent
- The long-term support of Barclays Private Equity is to drive on the profitable strategic growth of COMPUTERLINKS and help consolidate its market leadership.
- Stephan Link, CEO of COMPUTERLINKS AG: "For the further development of our company, a strong partner is very welcome to us. We are positive about the offer from Barclays and will examine it thoroughly.
The company Platin 274.GmbH (to be known in the future as CSS Computer Security Solutions Erwerbs GmbH), an acquisition company in which currently one fund (in the future several funds) managed by Barclays Private Equity Limited ("Barclays Private Equity") has an indirect stake, today announced that it is submitting a voluntary public tender offer in accordance with §§ 29 et seq. Takeover Act (Wertpapiererwerbs- und Übernahmegesetz - WpÜG) of EUR 15.50 per bearer share to the shareholders of COMPUTERLINKS AG, Europe's largest value added distributor of IT solutions in the e- Security and e-Business Solutions segments. The offer price thus equates to a premium of 38.9 percent on the Xetra closing price of the COMPUTERLINKS share on Monday 16 June 2008, and of 31.6 percent on the volume-weighted average Xetra price of the COMPUTERLINKS share over the past three months.
The takeover offer will be subject to the condition of a minimum acceptance rate of 75 percent and the approval of the relevant regulatory authorities. As the new majority shareholder, Barclays Private Equity wants to support the company in its long-term goal of further expanding its position as market leader in Europe and beyond through organic growth and strategic acquisitions.
With branch offices in 11 European countries as well as in North America, Australia and the United Arab Emirates, COMPUTERLINKS AG, founded in 1984 and listed on the stock exchange since 1999, is Europe's leading value added distributor for international marketleading manufacturers in the e-Security and e-Business Solutions segments. In 2007 the company and its 490 employees generated a turnover of EUR 469.1 million and an EBITDA of EUR 19.2 million. In the 2008 financial year the company aims to continue on its course of profitable growth.
"For the further development of our company, a strong partner is very welcome to us. We take a very positive view of this offer from a renowned financial investor such as Barclays Private Equity, which has a strong track record with German medium-sized companies, to support our company in its future strategic development and the continuation of its current successful course of growth," said Stephan Link, Founder and Chairman of the Management Board of COMPUTERLINKS AG. "In the context of the intended further international expansion of COMPUTERLINKS, for instance in the USA and Asia, it is a great advantage to have a financially strong partner alongside us. Because the capital market is proving increasingly less attractive as a financial source for our company, we have decided, in the interests of the company, its shareholders and its employees, and after having consulted the supervisory board, to thoroughly examine the offer announced by Barclays Private Equity."
Barclays Private Equity will publish the concrete details of the offer in the bidding document.
This document will be available at www.css-angebot.de or http://188.8.131.52 as soon as it has been approved by the German Federal Financial Supervisory Authority (BaFin).
The management board of COMPUTERLINKS AG will discuss the announcement of the offer in detail in a telephone conference today, Tuesday June 17, at 8.30 a.m. The dial-in details are as follows:
Telephone: +49 (30) 5900 24903 Dial-in code: 7331549
About the bidder / About Barclays Private Equity:
The bidder is an acquisition company in which currently one, and in the future several, funds managed by Barclays Private Equity Limited have an indirect stake. The bidding company was acquired for the purpose of carrying out this transaction, and primarily serves to hold and manage the COMPUTERLINKS shares which are to be purchased.
Barclays Private Equity, founded in Great Britain in 1979, is one of the leading private equity firms for medium-sized companies in Europe. In recent years, its current total of eight offices worldwide have invested equity capital with a total volume of over EUR 10 billion in around 400 transactions. On average, it purchases 15-20 companies each year with EUR 500- 700 million of equity capital. Barclays Private Equity has been active in Germany since 1998, and its 10-strong team in the Munich office branch has already successfully concluded a multitude of company transactions.
With branch offices in 11 European countries as well as in North America, Australia and the United Arab Emirates, COMPUTERLINKS is one of the leading distributors for top international manufacturers in the information technology sector. In its business activities, COMPUTERLINKS functions as a link between manufacturers and resellers, and facilitates the successful distribution of sophisticated IT solutions from the e-Security und e-Business segments. It puts a particular focus on evaluating and marketing the latest hardware and software products which stand out in terms of innovation and quality and have the greatest chances of surviving on an IT market which is marked by an increase in security-related demands.