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Barclays to acquire German IT distributor

The mid-market private equity arm of UK bank Barclays has gained shareholder approval for the €15.50 per share buyout of Munich-based IT distributor Computerlinks.

Barclays Private Equity’s bid to purchase Munich-based information technology distributor Computerlinks for €15.50 ($23.00) per share has been approved by shareholders. Regulatory approval is expected before 27 August.

The company will be renamed CSS Computer Security Solutions Erwerbs following the acquisition. Barclays and Computerlinks said in a statement they intended to expand the company globally and hire more staff.

Barclays Private Equity is the mid-market private equity arm of UK  bank Barclays. The firm has eight offices including a Munich-based team with 10 investment professionals.

The buyout business is currently investing the €2.4 billion Barclays Private Equity European Fund III which closed in September 2007.

Barclays invests between €500 million and €700 million of equity capital each year purchasing approximately 15 to 20 companies.

Computerlinks is Barclays’ third German buyout this summer. In June, the firm acquired synthetics and artificial leather manufacturer Konrad Hornschuch Group and Novem-Group, a manufacturer of components for car interiors.

The firm has also raised five infrastructure investment funds totaling more than £1 billion ($1.9 billion; €1.25 billion) in capital.