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Electronics Production | September 24, 2008

Abacus Group confirms the sale

Abacus has appointed HSBC bank to handle the potential sale of the group.
The potential bidders have not been named, but major U.S. owned companies such as Arrow, Avnet or Future Electronics seems to be interested, according to Business SalesReport.

Abacus and its divisions provide electronic component distribution, embedded computing own brand product, and wireless communications. The company owns several businesses including Abacus Embedded, Trident Displays, and Alpha 3 Manufacturing.

Underlying profits for the six months to March 31 fell from £6.8m to £4.5m, and borrowings rose £3m to £62.9m. Abacus has over 40 offices in 11 countries throughout Europe, and employs over 1,100 staff.
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