PCH International announces acquisition of TNS Distribution

DUBLIN 16 June 2011 PCH International, a global supply chain solutions company, today announced it has acquired TNS Distribution, a European distributor of consumer electronics products and accessories. The consideration includes an immediate payment of €6m (US$8.67m) with an earnings-based payment of €5m (US$7.22m) over 3 years, based on the performance of TNS Distribution. An additional payment will be made over the same period based on the overall performance of the PCH Group, and will range from between €5 and 10 million (US$7-14 million). Ernst & Young managed the transaction on behalf of PCH.

TNS Distribution is based in Ireland, and has offices in the UK, Germany, France, Sweden, Spain and China. TNS is able to service mainland Europe, delivering the latest innovations in technology. The addition of TNS Distribution to the PCH Group will enhance PCH’s European presence and distribution capabilities for PCH clients. The company employs 40 people around the world.

Liam Casey, PCH CEO commented, “TNS Distribution is a strategic and natural match for PCH and we are very pleased to announce this acquisition. PCH offers world-class product development and supply chain solutions from China to the world. TNS Distribution completes this service offering with a strong distribution network in Europe. Together we will be able to improve the service offering to our clients – including the world’s leading technology brands – who are eager to sell their products into Europe.”

Mr Casey continued, “Ireland is the perfect location for distribution into Europe and to manage the flows of information globally. TNS Distribution founders John McHugh and Ivan Eustace are superb entrepreneurs, who have built strong working partnerships with a major focus on competitiveness and market awareness. We at PCH admire their vision and innovative outlook. This business is very scalable, and we expect this acquisition will eventually create new jobs in Ireland. We are excited about the opportunities this investment will bring and the benefits to our clients will be enormous.”

About PCH International

PCH International creates, develops and delivers the world's best technology products for the world's best brands, focusing on the accessories market for eReaders, smartphones and tablets. With more than 1,000 employees spanning four continents, we offer a unique understanding of China, end-to-end integrated supply chain solutions, world-class design and transparent partnerships. Since 1996, we have used our entrepreneurial vision and innovation to disrupt traditional supply chain models.