Compu B parent acquires British Apple reseller Stormfront
Deal is expected to add about €60 million in revenue to group turnover, company says
CompuB, which was founded in 1992, operates across seven retail locations and also has a sales division
B.Iconic, which also operates a number of other companies, including tech accessories brand Juku, said the deal is expected to add about €60 million in revenue to group turnover.
Stormfront is one of the UK’s largest Apple premium reseller with 23 stores and a sales division. It is also one of the biggest tech giant’s biggest authorised service providers handling over 70,000 repairs last year.
The group employs over 300 people and made a pre-tax loss of £475,000 (€562,532) in the 12 months to September 2017, as revenues reached £61.6 million.
“This is a landmark acquisition for the B.Iconic Group. The UK is an important market for our business, and this deal allows us to grow our presence significantly in this market,” said chief executive Ciaran McCormack.
Stormfront complements our existing Apple premium reseller, business-to-business and education technology offering in the UK and Ireland, expanding our opportunities and supporting the delivery of our strategic growth plan for our business,” he added.
CompuB, which was founded in 1992, operates across seven retail locations and also has a sales division. It reported a €1.1 million pre-tax profit for the year to the end of March 2019 as revenues fell to €139.6 million from €157.4 million a year earlier.