ALSO Holding AG: Westcoast and ALSO receive Clearance for Strategic Partnership

Westcoast and ALSO receive Clearance for Strategic Partnership

Following the receipt of all necessary regulatory approvals, including merger clearance without restrictions from the European Commission, the companies are set to complete the transaction by 28 February 2025.

With a total addressable market (TAM) of 16 billion euros, the UK ICT industry stands as one of the world’s most dynamic and attractive markets, fueled by its culture of innovation, robust infrastructure, highly skilled workforce, and strategic proximity to leading US vendors.

As the UK’s leading technology provider, Westcoast brings a highly complementary and accretive business to ALSO’s expanding ecosystem, including attractive new vendors. In 2024, Westcoast generated approximately 4.2 billion euros in revenue and 73 million euros in EBITDA across its British, Irish, and French operations. Its fast-growing cloud business, serving a high amount of unique users with an even higher potential, provides opportunities for future growth, leveraging ALSO's new platforms and technologies such as AI, IoT, virtualization, and cybersecurity. At the same time, Westcoast’s e-commerce segment holds significant expansion potential, further enhancing digital sales capabilities and extending market reach.

To ensure continuity and drive further expansion, Westcoast’s experienced management team will remain in place, working closely with ALSO to seamlessly integrate operations and capitalize on new market opportunities. Particularly in France, this collaboration is expected to generate strong synergies, enhancing operational efficiencies and accelerating growth in key sectors.

Joe Hemani, Chairman of Westcoast: "This is an alliance of two highly successful businesses sharing the same mindset of growth. Over the last 42 years our company went from strength to strength and this is how it will remain in the future. The continuity of the business which is paramount for vendors, customers and our team alike is secured with this move. I am excited to play an active role during what I know will be a smooth transition and beyond."

Gustavo Möller-Hergt, Chairman of the Board of Directors of ALSO Holding AG (SIX: ALSN): "Over the past 14 years, we have built a strong and resilient ecosystem. This partnership with Westcoast marks a significant milestone, allowing us to combine our strengths and create an even more powerful force in the industry. Together, we will become the largest European technology provider. This provides a solid foundation for sustainable, profitable growth, and both teams are looking forward to unlocking the many opportunities ahead."

Contact ALSO Holding AG
Kilian Maier
Investor Relations
E-Mail: kilian.maier@also.com

ALSO Holding AG (ALSN.SW) (Emmen/Switzerland) is one of the leading technology providers for the ICT industry, currently active in 30 European countries and in many countries worldwide via PaaS partners. The ALSO ecosystem comprises a total potential of around 135,000 resellers, to whom we offer hardware, software and IT services from more than 800 vendors in over 1,570 product categories. In the spirit of the circular economy, the company provides all services from provision to remanufacturing from a single source. The business activities comprise the areas of Supply, Solutions and Service. Supply stands for the transactional provisioning of hardware and software. Solutions supports customers in the development of customised IT solutions. Subscription-based cloud offerings as well as digital platforms for IoT, cybersecurity, virtualisation and AI are at the heart of the Service division. The main shareholder is the Droege Group, Düsseldorf, Germany. Further information can be found at  https://also.com

The Droege Group (founded in 1988) is an independent investment and consulting firm under full family ownership. The company acts as a specialist for tailor-made transformation programs aiming to enhance corporate value. Droege Group combines its corporate family-run structure and capital strength into a family-equity business model. The group invests its own equity in “special opportunities” with a focus on medium-sized companies and spin-offs as well as strategically in buy & build transactions. With the guiding principle "execution - following the rules of art", the group is a pioneer in execution-oriented corporate development. Droege Group follows a focused investment strategy based on long-term oriented megatrends. Enthusiasm for quality, innovation and speed determines the company’s actions. In recent years Droege Group has successfully positioned itself in domestic and international markets and operates in 30 countries. Further information can be found at https://droege-group.com.

Disclaimer

This press release contains forward-looking statements which are based on current assumptions and forecasts of the ALSO management. Known and unknown risks, uncertainties, and other factors could lead to material differences between the forward-looking statements made here and the actual development, in particular the results, financial situation, and performance of our Group. The Group accepts no responsibility for updating these forward-looking statements or adapting them to future events or developments.