Interface Solutions owner still up for sale

Fayrewood still in talks with shareholder

Broadline distributor Interface Solutions’ parent company, Fayrewood, has admitted it is still in sale talks as it posted higher profits and revenues for 2007.

Alternative Investment Market-listed Fayrewood reported revenues of £129.6m for the twelve months to 31 December, up 6 per cent year-on-year. Pre-tax profits from continuing operations hit £936,000, comparing favourably to a loss of £242,000 in 2006.

The firm confirmed it is continuing discussions with shareholder, North Atlantic Value LLP, in relation to a possible offer for the company.

Birmingham-based Interface is Fayrewood’s sole remaining subsidiary following the recent disposal of its French and Spanish subsidiaries.

Fayrewood conceded that Interface, an IBM and Lenovo distributor, had endured a “mixed year”, but claimed a recent managerial restructuring and reorganisation had placed it in a stronger position.