EET Group, the pan-European distributor, has a new private equity investor after Pamplona Capital Management and EET management agreed to acquire the company from funds managed by FSN Capital.
EET distributes 1,100 different technology brands, including a number in the unified communications and AV segment, across 24 countries. It claims to have 30,000 channel customers.
The firm is headquartered in Denmark and employs over 600 people with annual revenues of over €500m. It has made 46 acquisitions across 24 countries since it was originally formed as a Nordics distributor 30 years ago.
Søren Drewsen, CEO at EET, said:
“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 continuing this journey with a new ambitious international partner in Pamplona.”
Martin Schwab, Co-Managing Partner at Pamplona, added: “We are partnering with Søren and his team 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.”
In March this year, EET sealed a distribution agreement with barox Kommunikation for its network switches, which are designed for the needs of the video surveillance market across various verticals. That same month, it acquired Oprema, a distributor of CCTV, access control, intrusion, fire and networking products in the UK, to further accelerate growth in its surveillance and security unit.
In September 2020, EET was appointed as a UK-wide distributor for artificial intelligence IoT vendor Dahua Technology. Dahua has made a play in the “AIoT” field, enabling intelligent and connected video-based solutions that are capable of “self-learning” and analysing data.
The Pamplona sale is expected to close in the first quarter of 2022. Pamplona Capital Management has offices in New York, London, Madrid and Malta, and manages over $11 billion in assets.
