STRASBOURG, France, Dec. 6, 2019 — 2CRSi group is announcing the finalization of its acquisition of Boston Limited, a global player in the integration, sales and marketing of IT equipment that uses the most advanced technology on the market.
As a reminder, through this transaction, 2CRSi has reached a key milestone in its development and considerably broadened its international operations. Beyond geographical complementarity, the new group will benefit from major commercial synergies and substantial economies of scale.
Finally, this merger draws on the long-standing relationship between the two groups and their founders; beyond that relationship, the complementary expertise between 2CRSi (designer and manufacturer) and Boston Limited (value-added distributor and systems integrator) has been at the core of the operation.
After the audit of Boston Limited’s accounts¹, the group generated consolidated revenues of GBP 89.3m, for EBITDA of GBP 1.9m and net income of GBP 1.5m, in its 2018-2019 financial year (1 March 2018 – 28 February 2019).
Boston Limited is consolidated in the Group’s financial statements as from November 14, 2019. The acquisition is financed by a medium-term loan that is part of structured financing by BNP Paribas to be syndicated with a banking pool.
The presentation of the acquisition will be available for consultation on the Group website. Teams have started working together to share expertise; the next months will be devoted to the appreciation of the commercial synergies, definition of the common strategic plan and promotion of the newly-formed entity to the customers of both companies. At the beginning of 2020, 2CRSi will be able to communicate a revised roadmap for the new entity as much in terms of level of activity and profitability.
¹ FRS 102
2CRSi is based in Strasbourg and has subsidiaries in Manchester, Dubai and San Jose in Silicon Valley. It specializes in the design and manufacturing of very high-performance IT servers. It provides innovative calculation, data storage and data transfer solutions to over 200 clients in 25 countries. In 2018, 2CRSi Group generated consolidated revenues of €65.2m. For further information please visit: www.2crsi.com