Apple's 'largest UK reseller' up for sale as owner looks to cash in its chips  

Britain's biggest Apple reseller has been put up for sale amid mounting concerns that consumers and businesses are holding on to smartphones for longer.
Private equity group NorthEdge Capital is seeking a buyer for Jigsaw24, kicking off the process weeks after ­Dixons Carphone issued a profit warning because of a slowdown in the ­mobile market. 
The Manchester-based private equity house has hired Clearwater Corporate Finance to approach buyers for the business, whose clients include Channel 4, BBC Sport and News UK, sources have told The Sunday Telegraph.
NorthEdge, which specialises in ­investments across northern England, bought a majority stake in the Nottingham-based group, which sells iPhones, iPads and Macs to businesses in the UK, in 2013 and has since seen it profit from the booming popularity of Apple products.
The company generated a turnover of ?125m in the year to May, up from about ?60m in 2013, and now claims to be the largest reseller of ­Apple products to businesses in the UK with over 23,000 customers.
Apple's 'largest UK reseller' up for sale as owner looks to cash in its chips  

Chief executive of Dixons Carphone Seb James warned last month that people were holding onto their phones for between four to six months longer as the weakness of sterling since the Brexit vote made handsets 16pc more expensive, a slowdown that was impacting the market. 
A deal is expected to be announced at the end of this year or early next. Sources close to the process insisted the move was not linked to concerns that people had reached “peak phone” consumption and said the group wanted to exit at a time that left “plenty of runway for the next people”.
Meanwhile, Apple is set to release a new range of iPhones this week, including a high-end model costing more than ?1,000. At an event at the company’s new headquarters on Tuesday, it is expected to unveil the radical, new model featuring a bigger screen, glass design and facial recognition. Investors hope the new iPhone will prompt growth after two years of flat sales.
How to connect with us | Telegraph Business on social media
See also:
Leave a comment
  • Latest
  • Read
  • Commented
Calendar Content
«    Ноябрь 2017    »