Dustin acquires Dutch Vincere Groep for EUR 65M

Sweden M&A 04 July 2018
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Dustin, a Stockholm, Sweden-based reseller of IT products and additional services, announced getting into an agreement to purchase Dutch Vincere Groep, a company specialized in managed services with focus on cloud and security, along with IT-solutions with associated value added hardware and consultancy services.

The company is acquired from ABN Amro Participaties and the current management, who will remain with the company. The purchase price amounts to EUR 65M ($76.5M) on a debt-free basis.

Vincere Groep, led by CEO Henk Makaske, was founded in 2013 and is specialized in managed services, with focus on cloud and security, along with IT-solutions with associated value added hardware and consultancy services. The company focus on small and medium sized companies and organizations within the public sector and had a revenue of EUR 67.1 million 2017 and an EBITDA of EUR 5.6 million.

Dustin, led by CEO Thomas Ekman, is one of the leading Nordic resellers of IT products with associated services to companies, the public sector and private individuals. With its core business in e-commerce, Dustin functions as a bridge between the manufacturer’s wide-ranging offerings and customer requirements, in which Dustin’s employees support customers in finding the appropriate solution for them.

Sales during the 2016/17 financial year amounted to approximately SEK 9.3 billion. About 90 per cent of Dustin’s income derives from the corporate market with a focus on small and medium-sized companies. Dustin Group has been listed on Nasdaq Stockholm since 2015 and has its head office in Nacka, Stockholm.