25 February 2008
The chief executive at the Fayrewood Group has confirmed that six parties have expressed an interest in buying its subsidiary Interface Solutions but none had
yet proposed the right price.
According to Keith Negal, also managing director at Birmingham-based distributor Interface, a string of suitors have been in discussions with it since Christmas.
"Interface is for sale if the price is right, sadly as yet the price hasn’t been right but that doesn’t mean it won’t be. There has been a lively level of interest… we are in no rush," he told MicroScope.
According to sources close to the situation, acquisition-hungry Avnet is in pole position to buy Interface and Computacenter Distribution is also believed to have tabled a bid but neither firm would comment.
But the offers reflect what some sources are claiming as the
less-than-flattering profits achieved by Interface. Negal said revenues were up last year but admitted it had only broken even or made a marginal profit – accounts are
being audited.
"There were things that were wrong with the business last year, weaknesses in some systems and management... and [changing those] had a price," he said.
