TMCnet News

Regenersis acquires Plataforma HDM Tecnologica
[September 04, 2012]

Regenersis acquires Plataforma HDM Tecnologica


Sep 04, 2012 (Datamonitor Financial Deals Tracker via COMTEX) -- Regenersis plc, a UK-based provider of after sales product support services to technology brands, has acquired all of the issued share capital of Plataforma HDM Tecnologica S.A., an Argentina-based provider of aftermarket services, including reverse logistics and repair, to network operators and mobile telephone manufacturers.



Simultaneously, Regenersis has also acquired all of the issued share capital of Plataforma HDM Tecnologica S.A. de C.V and the trade and assets of HDM Plataforma Logistica S.L., HDM Soluciones Integrales de Reparacion S.L. and HDM Moviltech Servicio Tecnico S.L. together comprising the entire operations of the HDM Group of Companies (HDM) for an initial consideration of EUR6.5 million on a cash and debt-free basis.

The initial consideration, EUR5.85 million has been funded through Regenersis' existing banking facilities, and 587,571 ordinary shares will be issued to the vendor in settlement of the remaining EUR0.65 million of the consideration payable.


Announcement (July 26, 2012): Regenersis has agreed to acquire all of the issued share capital of Plataforma HDM Tecnologica.

Simultaneously, Regenersis has also agreed to acquire all of the issued share capital of Plataforma HDM Tecnologica and the trade and assets of HDM Plataforma Logistica, HDM Soluciones Integrales de Reparacion and HDM Moviltech Servicio Tecnico.

In the year to December 2011, HDM Group generated revenues of EUR26.2 million and net income of EUR1.2 million, with net assets of EUR12.1 million before fair value adjustments as at December 31, 2011. HDM currently employs more than 600 staff across its three facilities.

The transaction is expected to close on August 31, 2012.

Deal Type Acquisition Sub-Category 100% Acquisition Deal Status Completed: 2012-08-31 Deal Participants Target (Company) Plataforma HDM Tecnologica S.A.

Acquirer (Company) Regenersis plc (formerly Fonebak plc) Deal Rationale The acquisition will enable Regenersis to expand deeper into emerging markets, such as Latin America; further consolidate its already strong position in European mobile telephone repair, delivering to it a major share in the important Spanish market; and expand Regenersis' footprint to 12 countries across three continents, further broadening its revenue base and increasing its closeness to clients.

[ Back To TMCnet.com's Homepage ]