MFS Capital Partners has announced plans to acquire full ownership of Century Business Machines.
The company says it has signed a memorandum of understanding to purchase 100 per cent of the business, with the agreement taking a effect March 18 this year.
The announcement was made by the Chief Executive Officer Dino Hinds during MFS Capital’s 4th Annual General Meeting on Friday.
MFS says the acquisition marks a key step in its growth strategy, and is expected to boost revenues while diversifying its investment portfolio.
Century Business is regarded as one of Jamaica’s leading providers of office supplies, technology solutions and office furniture, serving businesses across the island for decades.
Mr. Hinds says MFS is looking forward to completing the transaction and continuing due diligence on other potential investments.
MFS Capital says the agreement sets the stage for exclusive negotiations, but that he remains subject to due diligence, final agreements and regulatory approvals.