Accent Equity acquires Inteno from KAMIC Group
The investment fund Accent Equity 2012 has signed an agreement to acquire Inteno Broadband Technology and subsidiaries from KAMIC Group. Through the transaction, Inteno will become an independent entity in the Accent Equity 2012 fund. The company’s net sales amounts to approximately SEK 350 million.
Inteno is a Nordic market-leading supplier of gateway solutions including operating systems and Cloud platforms. The company has over 30 years’ experience of supplying access solutions to telecommunication and Broadband operators. Today the company is well positioned to help Internet Service Providers (ISPs) improve their competitiveness by offering smart home platforms based on the versatile iopsys platform. The iopsys Ecosystem includes gateway software, communication engines, cloud platforms as well as end-user applications.
“With a unique position in a fast developing communications segment, Inteno is well positioned to leverage on the development of ‘Internet of Things’ as well as increased fiber penetration," says Niklas Sloutski, CEO of Accent Equity Partners, investment advisor to Accent Equity 2012. "The company's management has demonstrated a solid ability to build strong customer relationships based on profound knowledge and to keep up with technology changes over time. We look forward to continuing the journey with them. There is a potential for pursuing both organic and acquisitive growth initiatives, strengthening Inteno’s position outside of the Nordic markets.”
“It is great to get an owner who is focused on growth and will continue to develop the company further and drive our international expansion" says Conny Franzén, CEO of Inteno.
“Inteno is a very well run company with a strong market position and great potential. However, Inteno’s current and future business is a bit outside our core business. The sale of Inteno is a step in our strategy to strengthen the focus on fewer businesses and at the same time create financial flexibility for future strategic acquisitions.” says Fredrik Celsing, President & CEO KAMIC Group
For more information, please contact:
Niklas Sloutski, Accent Equity Partners AB
Telephone: +46 70 300 99 59
Conny Franzén, CEO of Inteno Broadband Technology
Telephone: +46 70 770 44 61
Fredrik Celsing, President & CEO KAMIC Group
Telephone: +46 70 658 44 20
Founded in 1994, Accent is one of the buy-out investment pioneers in the Nordic region. Since then, Accent funds have invested in 74 companies, whereof some 55 have been realised. Accent Equity Partners AB has advised seven funds with total commitments of more than EUR 1 billion. Accent’s ambition is to develop the portfolio companies to Nordic, European or Global leaders through sustainable improvements of their operations as well as their strategic positioning. www.accentequity.se
KAMIC Group is a corporate group with a base in Sweden and a common aim to be a leading supplier of technical products and services in a number of well defined product and market niches.
KAMIC Group consists of some 30 operating companies with combined annual sales of approximately SEK 1.4 billion. Most of the companies conduct trading and agency operations, but the Group also includes companies with in-house product development and manufacturing. The Group has subsidiaries and branch offices in 12 countries in Northern Europe, Asia and the US and a total of around 750 employees.