CFA Society Singapore
SINGAPORE (Nov 8): Procurri has announced its first post-IPO acquisition of UK-based EAF Supply Chain for $2.6 million by its UK subsidiary, Procurri UK.
EAF Supply Chain is a provider of IT spare parts, and fits into the company’s Independent Maintenance Services business, Lifecycle services segment.
EAF Supply Chain is also a long-standing supplier for Procurri UK.
The acquisition will allow the company to improve its service response time and extend service coverage, with EAF’s three offices in the UK, 55 stock locations and more than 2,000 collect and drop-off points in Europe.
Procurri UK will also benefit from EAF Supply Chain’s list of customers including HP, IBM and Dell.
“This acquisition will allow us to efficiently ramp up Procurri UK’s Lifecycle Services business segment while deriving better economies of scale,” says Sean Murphy, global chief executive officer, Procurri.
“We are confident that the acquisition of EAFL and its subsequent integration into Procurri UK will bring about valuable synergies and pave further inroads across Europe for our group,” he adds.
Shares of Procurri traded flat at 47.5 cents as of 3.31pm.