ScanSource Inc. will sell its products businesses in Mexico, Colombia, Chile and Peru and its Miami-based export operations to Intcomex. This sale is part of the Greenville company’s strategic portfolio repositioning to align investments with higher-growth, higher-margin businesses, including ScanSource Brazil, according to a news release.
The sale includes all of ScanSource’s business in Latin America except Brazil. Terms of the agreement were not disclosed.
Intcomex is the leading provider of value-added solutions and technology products in Latin America, outside of Brazil and the Caribbean, according to the release.
Intcomex “has been in operation for more than 30 years and has a deep understanding of the Latin American distribution market and geography,” the release said. “Its in-depth knowledge of the value-added business model and the channel underscores the company’s strong alignment with the ScanSource business.”
“After a very thorough process, we are pleased to have found a highly respected, well-established buyer with a proven track record in Latin America,” Mike Baur, ScanSource chairman and CEO, said in the release. “Our more than 140 employees in Latin America are excited to become part of Intcomex, a company that shares our commitment to long-term partner relationships. Our business in Latin America fits well with the Intcomex business, and I see this as a positive move for our employees, partners and suppliers.”
ScanSource expects the affected business to be classified as “held for sale” at June 30, and reported as discontinued operations, the release said. Related to the “held for sale” classification, ScanSource plans to record a pre-tax non-cash charge of approximately $28 million. The transaction is expected to close by Sept.30, subject to the satisfaction of customary closing considerations.
ScanSource sells digital, physical and services offerings from suppliers of point-of-sale payments, barcode, physical security, unified communications and collaboration, telecom and cloud services.o