European product line and vendor investment programme to be accelerated.
Chessington: 05 December 02 Bell Microproducts Europe has completed a re-financing of its European working capital facility. The new working capital facility provides the company with a revolving line of credit of approximately $115 million (£75 million). This facility, which is being led by Bank of America supports the growth that has occurred over the past several years and enables the ongoing development of Bell’s European activities.
Bell Microproducts Europe consistent record of investment has driven its European expansion. The company now operates in seven European territories focussing on enterprise solutions, systems, software and licensing, mass storage and professional services.
Based on its unique online tool-License Desk internet (Ldi)-Bell’s software licensing business is one of the fastest growing in the UK. Last month Ldi was successfully rolled out across all of Bell’s European territories and the additional credit secured will ensure further expansion of the licensing business.
Don Bell, Chairman and CEO of parent company Bell Microproducts Inc , commented on the new facility, “This is a significant step forward in enhancing our working capital credit lines to support our European initiatives. With the growth in our European business driven from the UK , and our opening of Bell operations in seven countries across mainland European as well as the acquisition of TTPG operating in four European Countries , we wanted to ensure that we had ample financial resources to support this continued expansion across Europe and ongoing investment in strategic initiatives.”
Ian French, President of Bell Microproducts Europe, added, “This flexible new facility will enable us to capitalize on new opportunities in the marketplace in addition to supporting our core business. It will also support our acceleration of programmes and investments with key vendors and product lines.
We have been particularly successful in expanding the Enterprise portion of our business which focuses on Storage and Server Solutions and have also aggressively entering the software licensing arena . These initiatives and ongoing focus on value added products and services coupled with this new Financing capability will enable us to get more aggressive and accelerate our expansion and growth across Europe.”
Bell Microproducts Europe has expanded rapidly across mainland Europe through a combination of acquisition and organic growth. Operating as Ideal Hardware in the UK, Bell Microproducts Europe is headquartered in Chessington, Surrey in the UK. The company operates in France (Paris) Germany (Munich); Italy (Milan); Netherlands (Amersfoort); Belgium (Brussels); and Sweden (Stockholm).
Bell Microproducts pan European Enterprise Business, is branded Ideal Enterprise Solutions in the UK and Bell Microproducts Solutions in mainland Europe with offices in Almere, Brussels, Frankfurt and Vienna.
Bell Microproducts Solutions is an internationally operating IT services supplier focussing on SAN, network attached storage (NAS) and server and storage management solutions for mission critical high availability midrange and high-end computing environments.
Bell Microproducts Solutions supports partners with in-house expertise in sales, training, marketing and technical services such as pre-sales consultancy, configuration support, opportunity management, implementation and installation services.
About Bell Microproducts
Bell Microproducts is $2bn Nasdaq listed international, value-added provider of a wide range of high-technology products, solutions, and services to the industrial and commercial markets. The company is a recognized specialist in storage products and is one of the world's largest storage-centric value-added distributors with offices in the Americas and Europe. More information can be found in the company's SEC filings, or by visiting the Bell Microproducts Web site at http://www.bellmicro.com
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