Segulah V L.P. (”Segulah”) has entered into an agreement to acquire Teknikintressenter i Norden AB (“Teknikmagasinet”).
Teknikmagasinet is a leading Nordic retailer with a wide assortment of value-for-money, high-tech gadgets and hobby products. The management team has successfully grown the company by increasing the product assortment and expanding the store network throughout Sweden, Norway and Finland.
Currently, Teknikmagasinet has 119 stores and approx. 400 employees. In the fiscal year ending April 2015, sales amounted to approx. MSEK 900.
Teknikmagasinet was founded in 1989 by Jannis Östlund, Urban Printz and Bengt-Åke Printz. Jannis Östlund, Urban Printz and the management team will continue to be
significant shareholders in the company.
“We are delighted to have Segulah as new majority owner and welcome their support in the next phase of our expansion. As part of this transaction, we will leave the day-to-day management to the new CEO Sarah Falk and the other management team members. We will continue to support the business through the board of directors going forward,” say Jannis Östund and Urban Printz.
“Teknikmagasinet has a unique concept with multiple expansion possibilities. Segulah is pleased to be the chosen partner in the continued expansion and looks forward to working with the management team to grow the business further,” says Henrik Lif, Partner at Segulah Advisor AB.
The acquisition will be Segulah V L.P.’s first investment.
Jannis Östlund, CEO & owner Teknikmagasinet, +46 70 713 57 77
Henrik Lif, Partner, Segulah Advisor AB, +46 70 840 39 09
Oskar Oxenstierna, Investment Manager, Segulah Advisor AB, +46 73 909 09 47