Select Technology Group, an Apple premium reseller operating the Compu-b chain in Ireland, has announced its acquisition of DID Electrical, a prominent retailer with 23 outlets across Ireland. This acquisition is subject to competition clearance and will provide a significant boost to Select’s portfolio, bringing its total number of stores in Ireland to 29 and its overall count to 51.
DID Electrical, originally named for its commitment to “Deliver, Install, and Demonstrate” products, has been a leading player in the electronics retail market. With posted sales of €109.3m in 2021 and an operating profit of €5.3m, the company has enjoyed a steady growth trajectory in recent years. Additionally, its accumulated profits stand at an impressive €15.5m, signifying its financial stability.
The acquisition of DID Electrical presents exciting growth opportunities for Select Technology Group. Ciaran McCormack, the managing director of Select, expressed his enthusiasm for the deal, stating that it would accelerate the group’s potential expansion across Ireland and diversify its product portfolio. Furthermore, the acquisition allows Select to bring its premium technology experience to a wider customer base.
As the integration of DID Electrical into Select unfolds, the business will grow to encompass more than 650 employees across the group. This expansion will further solidify Select’s position as a key player in the Apple reseller market in both Ireland and the United Kingdom.
By investing in its online business and introducing over 1,000 new products, DID Electrical has demonstrated its commitment to meeting consumer demands and enhancing its long-term viability. The planned acquisition aligns with Select Technology Group’s vision for growth and presents a transformative opportunity for the company.
1. What is the significance of Select Technology Group’s acquisition of DID Electrical?
Select’s acquisition of DID Electrical expands its portfolio of Apple retail stores and enhances its growth potential across Ireland. The integration of the two businesses will cultivate a wider customer base and diversify Select’s product offerings.
2. How will the acquisition impact Select Technology Group’s workforce?
The acquisition will result in the growth of Select’s workforce to over 650 employees across the group as it integrates the teams from DID Electrical.
3. What are the financial highlights of DID Electrical?
DID Electrical reported sales of €109.3m in 2021, with an operating profit of €5.3m. Its accumulated profits stand at €15.5m, reflecting its financial stability and growth in recent years.
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