ALSO becomes Europe’s largest Technology Provider - Enhancing no. 1 position as indirect cloud provider in EMEA

ALSO becomes Europe’s largest Technology Provider
Enhancing no. 1 position as indirect cloud provider in EMEA

After a record-fast completion following merger clearance, the financials of ALSO and Westcoast will be consolidated starting 1 March 2025, achieving over €15 billion in revenue.

The purchase price corresponds to an EBITDA multiple of approx. 6, with a quarter of the total amount paid in ALSO shares. These shares were acquired at an average price of CHF 172 during the 2022-2023 share buyback program, and are now trading at CHF 276. The cash portion of the purchase price was paid entirely from existing reserves, without any external financing. After this transaction and the announced buyback of shares, ALSO will continue to maintain further cash reserves and already established external facilities for future growth.

With an EBITDA of €73 million in 2024, the business is accretive for ALSO. The company is the market leader in the region, holding a dominant position in the British and Irish distribution markets with operations in England, Scotland, Wales, Ireland and France. Additional value will be created through:

• Customer base: increase breadth in the UK via ALSO's webshop
• Cloud: enhance amount of unique users and monetization in the UK
• Digital Platforms: develop IoT, cybersecurity, virtualization and AI
• France: integrate operations, adding 40% to ALSO local sales
• Operational excellence: harmonize best-in-class systems and processes

The combination of these winning operations is being coordinated by a well-balanced steering committee, including senior managers and experienced international project teams. The integration will take place over several years, with individual topics being prioritized based on profitability potential.

In addition to being a major shareholder in ALSO, Joe Hemani will remain active in the industry and continue to hold interests in various companies, for example a reseller business, a gaming company, and a value add distributor in telecommunications. The collaboration with these companies will be further intensified to unlock additional potential.

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 31 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.