Sweden's largest web-based IT dealer Dustin Group has acquired Computerstore, one of Denmark's leading suppliers of IT products, for an undisclosed sum. The deal is reportedly the first step in Dustin Group's Nordic expansion plans. Computerstore employs 91 people and generates revenues of DKK 386 m (USD 69.5 m).
Per Eriksson, chairman of the board of Dustin Group says: "Dustin aims to become a leader in the consolidation on the Nordic market, and the strategy is to grow both organically and through acquisitions. After Denmark, the turn switches to Norway and Finland, and we plan to generate revenues of DKK 9.7 bn (USD 1.8 bn) and be the Nordic region's leading player in five years."
Lars Bräuner, the majority shareholder of Computerstore prior to the acquisition, will continue as MD of Computerstore A/S Danmark and will also join Dustin Group's Nordic management. "When we become part of Dustin, it will give us many positive effects. When the integration is ready, our customers will gain access to an even wider range of products and a unique logistics solution with more reliable and significantly faster deliveries. Our staff will become part of a strongly growing company, which will create new development opportunities," says Bräuner.
Dustin Group was founded in Stockholm in 1984 and employs 230 people. The company forecasts revenues of approx. DKK 2.4 bn (USD 450 m) in 2007. Private equity company Altor has been the main shareholder since August 2006. Computerstore was founded in the early 1990s and is based in Aarhus, Jutland. In each of the last four years, the firm has increased its revenues by 20%.
The news was reported by financial daily newspaper Børsen and on Computerstore's website.