Ramp-up of Visiativ’s international expansion: letter of intent signed to acquire a multi-country European distributor
Visiativ today announces the signing of a letter of intent to acquire a majority stake (82.5%) in a European distributor of SOLIDWORKS solutions based in several European countries.
Visiativ is set to strengthen its European leadership in its value-added SOLIDWORKS distribution business by acquiring this group, which operates in countries not covered by Visiativ.
The group posts annual revenues of around €10 million underpinned by double-digit like-for-like growth and strong profitability. Around two-thirds of its revenues come from recurring business.
The existing CEO will retain the remaining portion of the share capital, in line with the entrepreneurial business model preferred by Visiativ. He will continue to perform his current operating duties within the Group.