Systems Reliability Holdings Plc, formed last year by telephone management specialists Systems Reliability Plc with backing from Hillsdown Trust, has announced the acquisition of Chelmsford, Essex-based micro distributor Essex & City Computers Plc in a UKP6m deal. The new business will be merged with existing group company Fletcher Dennys Systems Plc, acquired last March (CI […]
Systems Reliability Holdings Plc, formed last year by telephone management specialists Systems Reliability Plc with backing from Hillsdown Trust, has announced the acquisition of Chelmsford, Essex-based micro distributor Essex & City Computers Plc in a UKP6m deal. The new business will be merged with existing group company Fletcher Dennys Systems Plc, acquired last March (CI No 886), to form what the management describes as the largest IBM related micro dealership in the UK with a combined turnover of UKP35m. There will be an immediate issue of UKP3m in shares to the vendors to be followed by another issue based on 5.2 times the company’s pre-tax profits for the financial year ending April 1988, which is expected to come to another UKP3m when the numbers are finally totted up. In addition to IBM Essex & City has authorised dealerships for Compaq, Toshiba, Unisys and Wang computers and is forecasting a UKP19m turnover for the current financial year. Formed in 1982, it is jointly owned by chairman Chris Rigler and managing director Gerry Redman, and has over 70 employees delivering business solutions medium and large-scale corporations in the banking and insurance sectors. Fletcher Dennys Systems Plc employs 50 people and is an authorised dealer for IBM, Compaq and Hewlett-Packard and operates out of Hounslow, West London. It concentrates on both central and local government as well as a number of vertical markets including retail, travel and pharmaceuticals. Michael Teacher, chairman of Systems Reliability Holdings Plc, said that there would be no rationalisation as there was no crossover in customer base, and the new group will be able to put more business the way of the existing UKwide System Reliability service centres.
