Industri Kapital has sold electronic components distributor ELFA to Swiss listed company Däetwyler for €222m.
Industri Kapital bought an 85 per cent stake in Elfa in 2006 for around Skr1.2bn. The company has since made a number of acquisitions including Tevalo Group, CLL and Oistein Roed. Elfa has, in particular, strengthened its position in Poland and in Russia.
Dätwyler was reported to have been one of the contenders in the 2006 auction for Elfa. Industri Kapital made three times its money on the deal and an IRR of around 90 per cent.
ELFA markets, sells and distributes electronic components and other technical products to business customers in Northern and Eastern Europe. It has over 56,000 customers and distributes 130,000 catalogues annually.
In 2007, ELFA generated Ebitda of SKr176m on sales of SKr987m.