Tuesday, November 26, 2013

How much did Service Point Solutions pay for Service Point USA?

First, let me point out that, when Service Point USA was purchased by Service Point Solutions (SPS), SPS was known as Gruppo Picking Pack.  And, back then, SP USA was known as Charrette.  And, at the time the purchase was completed, Charrette operated two different business segments, supplies (Charrette) and reprographics services (Charrette ProGraphics).

I just updated a post I put up a couple of weeks ago (post was on Nov 13th).

The articles in that post reveal a) that SPS (then called GPP) paid $107 mil (USD) for all of Charrette, and, later on, b) that SPS sold off the Charrette (supplies) business for 21 Mil Euros.  Back in 2002, the USD / Euro exchange rate was around $1.00 (USD:EUR).  

So, based on that exchange rate, SPS received around $21 mil USD for the Charrette supplies business it sold off.

By process of elimination, that “kinda means” that SPS paid $86 mil (USD) for the Charrette ProGraphics business (which was later renamed SP USA.)

If the number I’ve arrived at is even close to the price that was actually paid, it adds – OMG - to the stunning turn of events that resulted in the abrupt shut down of SP USA.

Here’s a link to the previous post I just updated:

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