Pamplona Capital Management to Acquire EET from FSN Capital
LONDON and NEW YORK, Nov. 30, 2021 /PRNewswire/ — Pamplona Capital Management (“Pamplona”) and EET management have agreed to acquire the company from funds managed by FSN Capital. The sale is expected to close in the first quarter of 2022.
EET is a leading value-added distributor of specialist technology components and solutions with a growing presence across Europe, selling branded and private label products to over 30,000 customers. The company has established longstanding vendor partnerships and leverages its deep technical expertise to deliver a differentiated product and service offering to its customers.
EET is led by CEO Søren Drewsen, supported by a deep and highly experienced management team. The company is headquartered in Denmark, employs over 600 people, and generates revenues in excess of 500 million euros.
The company has grown from being a leading distributor in its core Nordic market to becoming a key partner to customers and vendors throughout Europe. EET has a proven acquisition track record and is committed to growing its capabilities both organically and through pan-European M&A in order to deliver a comprehensive product portfolio to its customers.
Martin Schwab, Co-Managing Partner at Pamplona, commented: “We are delighted to be partnering with Søren and his team and are excited to take part in the next chapter of EET’s growth. The company has developed into a leading technology components and solutions distribution player across Europe and represents a highly attractive platform with numerous organic and inorganic growth levers. Pamplona has an extensive track record of supporting management teams in delivering on ambitious strategies and we will look to leverage our deep experience in order to help Søren and his team add to their impressive platform.”
João Saraiva e Silva, Partner at Pamplona, commented: “EET is a pan-European leader in technology distribution, a sector that increasingly benefits from supportive digitalization trends. We are impressed with the vision, creativity and proven execution capabilities of Søren and his team and are delighted to partner with the company as it accelerates its growth trajectory.”
EET CEO Søren Drewsen commented: “EET has been on an amazing journey in the last few years, delivering ever-higher value to both customers and vendors, which has resulted in solid growth rates with increased profitability. We are excited to continue this journey with a new ambitious international partner in Pamplona. The team at Pamplona have shown a passionate interest in EET and we have got to know them as being diligent, decisive and growth-oriented. We look forward to partnering with them and truly believe EET has a bright future with Pamplona’s support.”
Pamplona’s investment will be made from its sixth private equity fund, Pamplona Equity Partners L.P.
Pamplona was advised on this transaction by GCA Altium and Carnegie (M&A financial), Skadden and Bruun & Hjejle (M&A legal), Houlihan Lokey and Kirkland & Ellis (financing).
About Pamplona Capital Management:
Pamplona Capital Management is a specialist investment manager established in 2005 that provides an alternative investment platform across private equity and other diversified strategies. With offices in New York, London, Madrid, and Malta, Pamplona manages over $11 billion in assets.
EET Group is a value adding niche IT distributor, providing suppliers and customers with expert industry knowledge, intelligent logistics solutions, unique sales service and smart marketing tools. We operate in 24 markets across Europe, carry over 1,100 brands and serve more than 30,000 buying customers annually.
EET’s mission is to be the preferred distribution partner in Europe within our field. This includes offering long-term and sustainable value for both resellers and suppliers. Thanks to our 30 years of experience within the industry we are able to provide profound specialist knowledge and the support needed to supply our customers with the correct solution, as well as provide suppliers with the ideal platform for them to grow their business.
During EET Group’s existence, we have successfully acquired 46 companies in order to build and strengthen the offer to our suppliers and customers. Learn more about EET Group at www.eetgroup.com.
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