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PCH International announces acquisition of TNS Distribution
DUBLIN -- 16 June 2011 -- PCH International, a global supply
chain solutions company, today announced it has acquired TNS Distribution, a European
distributor of consumer electronics products and accessories. The consideration includes an
immediate payment of €6m (US$8.67m) with an earnings-based payment of €5m (US$7.22m)
over 3 years, based on the performance of TNS Distribution. An additional payment will
be made over the same period based on the overall performance of the PCH Group, and will
range from between €5 and 10 million (US$7-14 million). Ernst & Young managed the
transaction on behalf of PCH.
TNS Distribution is based in Ireland, and has offices in the UK, Germany, France, Sweden, Spain and China. TNS is able to service mainland Europe,
delivering the latest innovations in technology. The addition of TNS Distribution to the PCH Group will enhance PCH’s European presence and distribution capabilities for PCH clients. The
company employs 40 people around the world.
Liam Casey, PCH CEO commented, “TNS Distribution is a strategic and natural match for PCH and we are very pleased to announce this acquisition.
PCH offers world-class product development and supply chain solutions from China to the world. TNS Distribution completes this service offering with a strong distribution network in
Europe. Together we will be able to improve the service offering to our clients – including the
world’s leading technology brands – who are eager to sell their products into Europe.”
Mr Casey continued, “Ireland is the perfect location for distribution into Europe and to manage the flows of information globally. TNS Distribution founders
John McHugh and Ivan Eustace are superb entrepreneurs, who have built strong working partnerships with a major focus on competitiveness and market awareness. We at PCH admire their vision and innovative outlook. This business is very scalable, and we expect this acquisition will eventually create new jobs in Ireland. We are excited about the opportunities this
investment will bring and the benefits to our clients will be enormous.”
About PCH International
PCH International creates, develops and delivers the
world’s best technology products for the world’s best
brands, focusing on the accessories
market for eReaders, smartphones and tablets. With
more than 1,200 employees spanning four continents, we offer
a unique understanding of China, end-to-end integrated
supply chain solutions, world-class design and transparent
partnerships. Since 1996, we have used our entrepreneurial
vision and innovation to disrupt traditional supply chain
models.
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