CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
US English

Clipper Logistics (CLG) to buy Dutch electrical repair firm

By Rob Griffin

09:53, 29 November 2021

Clipper Logistics logo on external sign
Clipper Logistics to buy Dutch repair group – Photo: Shutterstock

Shares in Clipper Logistics rose today after the company revealed it had agreed to acquire a Dutch electrical repair business for up to €17.5m ($19.7m).

The Leeds-based firm is buying the family-owned CE Repair Services Group to enhance its operations across mainland Europe.

In a statement, it said the initial consideration was €12.5m in cash, with up to a further €5m dependent on earnings growth to €3.5m in calendar year 2024.

Increased footprint

The news went down well in the markets, with Clipper’s stock price rising almost 3% to 647p during early trading in London.

According to Steve Parkin, Clipper’s executive chairman, the deal will increase the company’s footprint in technical services.

“CE Repair is a profitable and cash generative business and will enable Clipper to widen the range of services that we can offer our customers in mainland Europe,” he said.

Market-leading position

According to the statement, Dordrecht-based CE Repair has built a “market-leading position” across the Benelux region for providing electronic equipment repairs for global blue-chip companies.


0.61 Price
+0.200% 1D Chg, %
Long position overnight fee -0.0753%
Short position overnight fee 0.0069%
Overnight fee time 22:00 (UTC)
Spread 0.01168


38,552.20 Price
+1.990% 1D Chg, %
Long position overnight fee -0.0616%
Short position overnight fee 0.0137%
Overnight fee time 22:00 (UTC)
Spread 106.00

Oil - Crude

76.08 Price
+0.220% 1D Chg, %
Long position overnight fee -0.0165%
Short position overnight fee -0.0054%
Overnight fee time 22:00 (UTC)
Spread 0.030


15,936.10 Price
+0.160% 1D Chg, %
Long position overnight fee -0.0262%
Short position overnight fee 0.0040%
Overnight fee time 22:00 (UTC)
Spread 1.8

In the financial year to 31 December 2020, CE Repair achieved EBIT (earnings before interest and tax) of €1.9m on revenue of €23m.

“The business has seen good growth during the current year and the acquisition will be immediately earnings enhancing for Clipper,” it added.

Further acquisitions

Clipper’s statement also confirmed that the existing CE Repair management team would remain within the business after the deal completes.

This is to enable them to help deliver double-digit organic growth and “identify further bolt-on acquisitions” in mainland Europe.

“A number of cross-selling opportunities between CE Repair and Clipper's existing customer base have already been identified,” the company added.


Read more: Clipper Logistics sees revenue soar as e-commerce boomed

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading