ScanSource sells European business for $30m

ScanSource has sold its European business for $30m to US-based private investor Ten Oaks Group. 

The deal does not include Bristol-based intY, the cloud services business acquired by ScanSource in 2019.

The distributor announced plans to sell off its European, Latin America and South America units over a year ago. 

The combined assets were said to be worth a total of over $600m in annual revenues at the time, with the largest portion generated in Europe. 

This month ScanSource reported Q1 group net sales of $757.3m, down 10% year-over-year, while gross profit slid 18% to $80.8m.

Share this story