Clipper Logistics acquires electronics repair specialist

Clipper Logistics has entered into an agreement to acquire the entire issued share capital of CE Repair Services Group B.V in the Netherlands.

Completion of the transaction is conditional on a number of formalities and is expected to take place within the next few weeks.

CE Repair is a specialist in consumer electronic repair services based in Dordrecht in the Netherlands providing services across the Benelux countries.

The acquisition will complement Clipper's existing electronic product repair capability in both the UK and mainland Europe.

The initial consideration is €12.5m in cash, with up to a further €5.0m deferred consideration dependant on EBIT growth to €3.5m in calendar year 2024.

Steve Parkin, Executive Chairman commented: "We are delighted to have increased our footprint in technical services with this acquisition.

"CE Repair is a profitable and cash generative business and will enable Clipper to widen the range of services that we can offer our customers in mainland Europe.

"We welcome the employees and management team of CE Repair to the Clipper Group and look forward to continuing to build the breadth and depth of our services and customer base across mainland Europe."