ABN Amro takes majority Nicator stake

The Dutch bank’s private equity unit has taken a 51 per cent stake in the Swedish personal computer supply and distribution business for an undisclosed sum.

ABN Amro Capital, the private equity unit of Dutch banking group ABN Amro, has taken a 51 per cent stake in Nordica Group, a Swedish distributor of personal computers. It supplies PCs, support and administration to corporate customers for home use by their employees.


The financial terms of the transaction have not been disclosed, although the company reported sales of SKr1.4bn (E150m) in 2002. Management, led by CEO Fred Andersson, will control the remaining 49 per cent stake.


The transaction enables Nicator to roll out its operations across Europe, including France, Spain and the UK. The company currently  is active in Sweden, Norway and Denmark.


According to The Deal, ABN is looking at a three-year exit horizon, with the most likely strategy thought be a stock market listing on the Swedish stock exchange.


ANM Amro Capital was unavailable for comment. Swedish law firm Vinge advised ABN Amro. Scan Securities and Bergling & Partners provided financial and legal advice respectively for Nicator management.


ABN Amro Capital has recently been linked with a number of deals in Europe.  Earlier this week, the French press reported that the firm was in exclusive talks with LVMH to acquire La Brosse & Dupont, the French luxury goods group’s personal grooming business. The unit has also been linked with possible offers for two units of UK-listed healthcare group SSL International, which is currently in the process of disposing of its non-core operations.