2e2's European business sold to Logicalis for £20.75m

Acquisition sign

2e2 Group's European operations have been sold to systems integrator Logicalis Group, a subsidiary of Datatec, for 24 million (20.75 million).

2e2, which consists of 10 companies overall, was placed into administration on 28 January 2013, with insolvency practitioner FTI Consulting appointed to oversee the running of the company.

In a statement, Chad Griffin, joint administrator of 2e2 and senior managing director at FTI Consulting, said: "2e2's international business attracted a lot of buyer interest and traded strongly through a difficult period. We are pleased that we were able to reach a successful transaction...with Logicalis."

Ian Cook, chief executive of Logicalis Group, said: "This transaction delivers on our stated intentions to grow our European presence and augment our solutions and service capabilities. In particular, the Spanish business is strategically important to us to strengthen relationships with our international clients in Latin America.

"The Service Management Consultancy business further enhances our services offering and allows us to introduce it to Logicalis' wider international audience."

Logicalis has also announced that, separate to its acquisition of 2e2's European operations, it has recruited the employees made redundant through 2e2's administration.

FTI originally said it intended to sell the Group as a going concern. However, as Eddie Pacey, head of EP Credit Management & Consultancy predicted to IT Pro, 2e2's businesses have been sold off piecemeal. The acquisition of the European operations branch by Logicalis follows Daisy Group's takeover of 2e2's data centre business in mid-February.

Jane McCallion
Managing Editor

Jane McCallion is ITPro's Managing Editor, specializing in data centers and enterprise IT infrastructure. Before becoming Managing Editor, she held the role of Deputy Editor and, prior to that, Features Editor, managing a pool of freelance and internal writers, while continuing to specialize in enterprise IT infrastructure, and business strategy.

Prior to joining ITPro, Jane was a freelance business journalist writing as both Jane McCallion and Jane Bordenave for titles such as European CEO, World Finance, and Business Excellence Magazine.