P&P Plc, the Haslingden, Lancashire-based hardware and software distributor has bought all the issued share capital of London and Exeter-based Maxima, which distributes Apple Mac networking and communications products. P&P has made an initial payment of UKP500,000, (UKP250,000 in cash and the rest by issuing 112,816 new shares) with a further payment of UKP750,000 being made if Maxima reaches pre-set levels of profitability during 1989 and 1990. P&P now owns two of Apple’s four accredited UK distributors, as the UKP0.8m turnover company Maxima becomes one of the group’s subsidiaries along with Principal. Maxima, which reported pre-tax profits of UKP73,000 last year, brings a complementary range of Apple Mac products to the Principal mainstream corporate range, as well as helping P&P to establish a stronger southern base. This acquisition follows that of the IBM Authorised Systems Centre Personal Computers Plc in February (CI No 1,112).
