A subsidiary of Nordic Capital fund VI, has signed an agreement to acquire Dangaard Telecom from BHS Holding, debitel, Fleggaard Holding and Dangaard Telecom Partners. Dangaard Telecom is Europe's largest and the world's second largest distributor of mobile phones, smart phones and original accessories, with revenues of EUR 1.6 billion in the financial year 2004-05.
As Europe's largest value adding mobile phone distributor, Dangaard Telecom serves all the major manufacturers, mobile network operators and retailers who operate across European and international borders. Headquartered in Padborg, Denmark, Dangaard Telecom has subsidiaries in 14 countries and approximately 1,000 employees.
Besides the traditional distribution business Dangaard Telecom is the leading provider of logistic services, mobile accessories and smart phone solutions. Dangaard Telecom's business model ensures optimization of existing competencies as well as the development of new value adding services for the company's markets.
Christian Dyvig, Partner, Nordic Capital: "This is a very promising business in an exciting industry. We believe that the distributor role will be even more important in the future as the manufacturers and the retailers need large and competent distributors to scale and develop their businesses. Dangaard Telecom has a strong management team and a track record of profitable growth and Nordic Capital intends to work closely with the company's management in further expanding the business into new markets."
Steen F. Pedersen, CEO, Dangaard Telecom Holding A/S: "After successful years together with the previous shareholders, we are well prepared to start the next stage together with Nordic Capital. The Executive Management has great expectations for the opportunities that the cooperation with Nordic Capital gives Dangaard Telecom. The co-operation with Nordic Capital will add even greater vitality to Dangaard Telecom and speed up the company's growth plans."
Michaél Køehn Milland, COO, Dangaard Telecom Holding A/S: "Already in the current fiscal year we will enter new markets and new continents, while at the same time leaving an even greater mark on the existing markets that Dangaard Telecom is currently present in. The new ownership will strengthen our possibilities for quickly implementing new business areas, making us able to realize the strategy plan's growth objectives with more power and more speed. We look very much forward to the co-operation with Nordic Capital."
Antonio Calabretti, Chairman of the Executive Board, Dangaard Telecom Holding A/S: "The shareholder base has been with Dangaard Telecom for a number of years, and we have all been very pleased with the company's development leading to its current position as the world's second largest distributor within its field of expertise. Now it is the right time to hand over the ownership to a new shareholder who is capable to support the growth and further internationalisation for the next coming years. That's why the board of directors decided in 2005 to start the process of finding the right buyer for Dangaard Telecom.
At the same time, Dangaard Telecom increased its growth further making the fiscal year 2004-05 to the best ever. The company has now devised pro-active strategy plans and strengthened the organisation, making it extremely well positioned for continuing growth in the future years. I am happy to say that it is a healthy and vital company that we now are handing over to Nordic Capital."
The parties have agreed not to disclose the transaction value. The completion of the transaction is subject to approval by relevant authorities.
For more information, please contact:
Christian Dyvig, Partner, Nordic Capital Tel: +45 3344 7750
Steen F. Pedersen, CEO, Dangaard Telecom Holding A/S Tel: +45 7330 3080
Michaél Køehn Milland, COO, Dangaard Telecom Holding A/S Tel: +45 7330 3080
Antonio Calabretti, Chairman of the Executive Board, Dangaard Telecom Holding A/S Tel: +41 (0) 41-768 76 50
Dangaard Telecom has its headquarters in Padborg and is Europe's largest distributor of mobile phones, Smart Phones and original accessories for mobile phones. Through new services, the company has developed the traditional distributor role and is today the preferred Value Adding Distributor for a number of Europe's largest manufacturers of mobile phones, Mobile Network Operators and retail chains. Dangaard Telecom have a first mover advantage in developing services to the fast growing enterprise segment, Multi Virtual Network Operators and Content and Application Providers. Dangaard Telecom has about 1000 employees in 14 countries and in the 2004-05 financial year, the company achieved revenues of ¤1,600 million. www.dangaard.com.
Nordic Capital is a group of private equity funds focusing primarily on investments in the Nordic region. Nordic Capital creates value in its investments through committed ownership and by targeting strategic development and operational improvements. Founded in 1989, Nordic Capital was one of the private equity pioneers in northern Europe and has invested in a large number of Nordic-based companies operating in different sectors. Nordic Capital Fund VI has EUR 1,900 million in committed capital provided by Nordic and international institutional investors.
Nordic Capital Funds currently own the following Danish companies Falck, Kompan, Nycomed, Sonion and Unomedical. www.nordiccapital.com