DCC sells Altimate with €8m loss

Support services giant DCC has sold part of its consumer goods distribution arm, taking an €8m loss in the process.

Dublin-based multi-faceted DCC has agreed to dispose of its Altimate Group subsidiary, which represents the enterprise distribution division of SerCom — DCC’s consumer and electronic goods distribution arm — to US headquartered computer product and technology distribution group, Arrow Electronics for more than €48m.

The Colorado-based group — which is listed on the New York Stock Exchange and already has a sales presence in Ireland — will pay an initial €41m of the total €48.1m consideration in cash, with “deferred acquisition consideration obligations” amounting to €7.1m.