Herkules announces the acquisition of share majority of Elektroimportøren

Herkules Capital, an Olso, Norway-based private equity company, announced it has signed an agreement to acquire a majority stake in Elektroimportøren, a successful wholesaler and retailer of electrical equipment in Norway.

The transaction includes acquisition of majority stakes in Elektroimportøren AS and Namron AS. The founder and current owner, Per Norman Nielsen, will continue as shareholder with a significant minority stake, thus showing continued commitment to the company. He will also have a key role in sourcing and product development.

Elektroimportøren, founded in 1994 by CEO Per Norman Nielsen, holds a strong position in Norway as a full-range wholesaler and retailer within electrical equipment. The company is targeting both the professional and retail markets through three distribution channels; a large store located at Alnabru in Oslo, an online store and a customer service center targeting professional installers/electricians.

Sales in 2013 were approximately NOK 166 million with an EBITDA of NOK 32 million.