IK sells ELFA

Industri Kapital, together with the Jensen family and management, said on Wednesday that it has agreed to sell ELFA for SEK 2.1bn (€222m) to Daetwyler, a Swiss-based engineering and electronic components supplier.

With over 56,000 customers, ELFA is a leading distributor in the Nordics, Poland, the Baltics, and Russia.

During 2007, ELFA made an Ebitda of SEK 176m (€19m) on net sales of SEK 987m (€105m), most of which were derived from the maintenance, repair and operations segment.

Under Industri Kapital’s ownership, ELFA has grown both organically and by acquisitions, including Tevalo Group (the Baltic states and Ukraine), CLL (Sweden) and Oistein Roed (Norway).