ALSO strengthens global position - Signing of partnership contract with Westcoast
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ALSO Holding AG / Key word(s): Merger
The UK is the sixth largest economy in the world. Founded in 1983, Westcoast Ltd. is the number one provider for many vendors and customers in the country’s ICT industry. With a turnover of 4.2 billion pounds in 2023, the Westcoast Group has once again proven its impressive performance. The deal covers its operations in Great Britain, Ireland and France. Westcoast chairman Joe Hemani states: “This is an alliance of two highly successful businesses sharing the same mindset of growth. Over the last 42 years, our company went from strength to strength. And this is how it will remain in the future. The continuity of the business, which is paramount for vendors, customers, and our team alike, is secured with this move. I am excited to play an active role during what I know will be a smooth transition and beyond.” Continuity is also guaranteed by the fact that Joe will be one of ALSO’s major shareholders in the future and that the company keeps operating under its well-known and trusted brand name. Westcoast’s current operations in Germany and the Netherlands will stay with Hemani. The deal, which is still subject to the standard regulatory approvals, marks a significant milestone in ALSO’s track record of sustainable profitable growth. The Swiss-based company has developed its own “Transformative Integration” program, which was the basis for nearly 30 successful acquisitions over the last 12 years. Gustavo Möller-Hergt, Chairman of the Board of Directors of ALSO Holding AG (SIX: ALSN): “We already have a successful collaboration, providing over 1.5 million seats to end customers of Westcoast with access to the cloud via the ALSO Cloud Marketplace. This next level opens exciting opportunities for us to scale our business and benefit from the expertise of the UK team; for our customers it means the highest level of expertise in IT provisioning, cutting-edge infrastructure solutions, and services via digital platforms such as cloud, AI, IoT and cybersecurity.”
The Droege Group (founded in 1988) is an independent investment and consulting firm under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group invests its own equity in “special opportunities” with a focus on medium-sized companies and spin-offs as well as strategically in buy & build transactions. With the guiding principle "execution - following the rules of art", the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on long-term oriented megatrends. Enthusiasm for quality, innovation and speed determines the company’s actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries.
Disclaimer This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments. Additional features: File: 25-07-25 - Westcoast_ALSO - EN End of Inside Information |
1953549 25-Jul-2024 CET/CEST
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