Swedish capital fund acquires Dangaard Telecom  

2006.06.15
Sweden's capital fund Nordic capital has acquired Denmark's Dangaard Telecom, Europe's largest distributor of mobile phones and the world's second largest, for an undisclosed sum

Sweden's capital fund Nordic capital has acquired Denmark's Dangaard Telecom, Europe's largest distributor of mobile phones and the world's second largest. The acquisition price is undisclosed, but according to national daily newspaper Politiken it is around DKK 800 m (USD 136 m) plus debts. Steen Folmer Pedersen, managing director of Dangaard Telecom, says the company's wish to expand into other markets outside Europe was the driving force for the change of ownership.

"We have always had the objective of becoming No.1 in the world, and with Nordic Capital we are ready to achieve it. Naturally the expansion strategy needs to be discussed, and it will certainly cost a lot of money." Dangaard Telecom plans to open offices in Moscow, Miami, New Delhi, Hong Kong and Nairobi this year.

Christian Dyvig, partner in Nordic Capital comments on the acquisition: "This is one of the most overlooked companies. But it is very interesting and impressive that quietly they have been able to build a global company which is the biggest in Europe in its area."

Dangaard Telecom is headquartered in Padborg in southern Jutland close to the German border. The company has subsidiaries in 14 countries and employs 1,000 people. In 2005, the company generated revenues of DKK 12 bn (USD 2 bn). The news was reported by Politiken and on Dangaard Telecom's website.

Link > Dangaard Telecom 

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