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ICD acquires minority interest in Intcomex

Friday, January 12, 2018

ICD Investments Ltd has acquired minority shareholding in Intcomex Global Investments Holdings, SL, a leading go-to market platform of value-added solutions and technology products in Latin America and the Caribbean.

The company was tight-lipped on the number of shares acquired.

Nonetheless, the deal is expected to result in synergies with ICD's existing businesses, several of which will benefit from Intcomex's extensive reach across Latin America, from as far south as Chile all the way up to Mexico.

Headquartered in Miami, Florida, Intcomex has a Jamaican location at The Market Place in Kingston.

With a country presence in 14 territories, serving more than 50,000 resellers, Intcomex leverages robust logistics incremented over 25 years of steady growth to deliver quality products to its resellers at competitive prices. The company utilises more than 1 million square feet of storage in 24 consolidation centres throughout the region.

Its sales divisions include security, point of sale, networking, peripherals, computers, mobile and cloud services.

“Intcomex has great leadership, dynamic in-country teams and superior distribution systems, making it an extremely attractive investment for ICD and one of our larger outlays in recent times,” chairman of ICD Joseph M Matalon said in a press release yesterday.

ICD Investments Ltd is the parent company of ICD Group Holdings Ltd, a Jamaican-based investment holding company whose subsidiaries include Advantage Communications, Amber Technologies St Lucia, British Caribbean Insurance Company, CGM Gallagher Group, Social Media Group, West Indies Home Contractors, and WIHCON Properties.

ICD Group's reach now extends to the wider Caribbean region and North America with focus on core industries including: financial services, real estate construction and development, insurance, property management, communications, and e-commerce.

“ICD brings a lot to the table in terms of their management expertise and deal-making ability; we are looking forward to growing the business with their participation. We are also keen to realise synergies with some of their current operations, including the roll-out of Amber Connect's suite of products and services to our existing customer base,” CEO of Intcomex, Mike Shalom, said.