Unitech Plc of Reading is selling off its high technology distribution business interests in order to finance the purchase of US power supply manufacturer, Vecco Instruments. Unitech owns three European distributors – Rapid Recall Ltd of High Wycombe, Buckinghamshire in the UK, and semiconductor and communications distributors Celdis Italiana in Italy and Nye Enatechnik in West Germany. According to Unitech financial director Charles Arnold, the sale is necessary to finance the acquisition of Vecco, which will cost around UKP180m. Combined turnover for the three companies last year was over UKP100m, said Arnold, almost half of Unitech’s total last year of UKP217m (CI No 986). Rapid Recall, which distributes low-end DEC, Hewlett-Packard and IBM PS/2 and RT hardware, achieved a turnover of UKP35m last year. Arnold said that the sale was attracting a lot of interest in both the UK and the US, and anticipated that it would be completed by the end of the year. Unitech, which will now concentrate on its power supply, connectors, and control products manufacturing business, is hoping for between UKP60m and 90m from the sale.
