Boston, MA, June 10, 2010 – Boston-based business advisor Thomas Schinkel reports the completion of a major international merger and acquisition transaction for a client in Switzerland. On May 28, 2010, the shareholders of ILOMA HOLDING AG agreed to sell 100% of their shares in the company, which includes the IBA AG division, to MIGROS Beteiligungen AG. In 2009, Dr. Peter Basci and Dr. Philipp Basci, joint owners of ILOMA HOLDING AG, engaged Thomas Schinkel and Associates to assist them in the sale of their mail-order office supply company positioned in the Swiss B2B market.
After an extensive search and evaluation process, a Purchase and Sale Agreement was entered into with MIGROS Beteiligungen AG of Zurich. In addition to being Switzerland’s largest retailer, Migros also owns Office World, a chain of office supply superstores with locations throughout the country. This transaction is expected to create synergies that will exceed those associated with any of the other offers the sellers received.
As project leader, Schinkel’s mandate was to coordinate all aspects of the M&A process (business, organizational, legal and financial) for the client, including the global search for, introduction and evaluation of potential acquirers. This transaction came together during a period of unprecedented challenges and turmoil in financial markets worldwide.
“Office World and IBA were never real competitors since they both focused on different segments in the market” said Peter Basci, who had been at the helm of IBA since 1974. “As an organization that is steeped in the entrepreneurial traditions of a family enterprise we recognized many of the same values and beliefs in the culture of the Migros organization”, he added.
For more information about this and other M&A transactions completed by Thomas Schinkel and Associates, please visit www.thomasschinkel.com .
