Powermill Service Group announces two acquisitions in Denmark

29 June, 2006

In the last few weeks Powermill Service Group (“PSG”), owned by Segulah II, L.P. and management, has completed two acquisitions in Denmark, Dansk Teknik Center and Merlin’s service business. PSG is one of leading electronics aftermarket service companies in the Nordic region.

Dansk Teknik Center, based in Koge near Copenhagen, is one of the leading repair centers for home electronics in Denmark. Dansk Teknik Center is a certified service partner for several leading manufacturers including Sony, Samsung and B&O. PSG acquired the company from its founder John Johannesen.

In a separate transaction, PSG acquired the service business from home electronics retailer Merlin. Merlin is one of the leading retailers in home electronics, entertainment and IT-products in Denmark. The service business acquired by PSG is based in Odense.

The business now formed will be one of the leading companies in the electronics service market in Denmark and will operate under the Powermill Service name. John Johannesen, founder of Dansk Teknik Center, has been named managing director of Powermill Service in Denmark.

PSG’s CEO Kent Bladh commented on the acquisitions: “The acquisitions now completed in Denmark are in a line with our strategy to build the leading service company for home electronics in the Nordic region. We are planning to launch our “Technical Courier Express” concept for installations and on-site services in Denmark soon.”

Powermill Service Group, with workshops in Sweden, Finland, Denmark and Estonia offers workshop repairs of home electronics, computing- and telecom products and is certified to perform warranty repairs for most of the major global manufacturers. PSG also operates the Technical Courier Express service organisation for delivery, installation and service of consumer electronics and white goods. PSG has completed eight acquisitions in four countries in two years, and thereby taken the position as the leading aftermarket service partner for consumer electronics and IT-equipment in the Nordic Region. Including Dansk Teknik Center and Merlin’s service business PSG is estimating its 2006 run rate revenues to 400 million SEK. PSG is owned by Segulah II L.P. and management.

For further information please contact:

Kent Bladh, CEO Powermill Service Group
Mob. +46 (0)705-36 83 50, e-mail: kent.bladh@powermillgroup.se
Christian Sievert, Managing Partner, Segulah
Mob. +46 (0)708-66 96 94, e-mail: sievert@segulah.se
Marcus Jansson, Junior Partner, Segulah
Mob.+46 (0)709-68 82 84, e-mail: jansson@segulah.se

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