An R&D programme that it expects to support 38 new positions
PCH buys TNS Distribution for up to €21m
Cork-headquartered global supply chain solutions company PCH International has bought TNS Distribution for a consideration of up to €21m.
The acquisition involves an immediate payment of €6m by PCH, which has its operational headquarters in Shenzhen, China. PCH will also pay up to €5m over three years for the company, which is a European distributor of consumer electronics products and accessories, depending on the latter's performance. An additional payment will be made over the same period based on the overall performance of the PCH Group, and will range from between €5m and 10m.
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. PCH said the addition of TNS Distribution to the group will enhance its European presence and distribution capabilities for PCH clients.
“TNS Distribution is a strategic and natural match for PCH and we are very pleased to announce this acquisition,” said Liam Casey, CEO of PCH. “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.
“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.”