Nordic VI completes first deal

Stockholm-headquartered private equity firm Nordic Capital has paid an undisclosed sum to acquire Dangaard Telecom, Europe’s largest distributor of mobile phones.

Northern European mid-market investor Nordic Capital has made its first investment from its latest fund with the acquisition of Danish mobile phone distributor Dangaard Telecom.
Financial terms of the acquisition were not disclosed.
A spokesperson for Nordic Capital said that Dangaard Telecom is the first investment from Nordic Capital Fund VI, which closed with €1.9 billion of commitments in March 2006.
Founded in 1986, Padborg-headquartered Dangaard Telecom is a distributor of mobile phones, smart phones and accessories to manufacturers, mobile network operators and retailers across Europe. The business has subsidiaries in 14 countries, employs approximately 1,000 staff and reported revenues of €1.6 billion in the financial year 2004 to 2005.
According to Nordic Capital, Dangaard Telecom is Europe’s largest and the world’s second largest mobile phone distributor.
Nordic Capital has 26 investment professionals, of which 12 are partners, operating out of office in Stockholm and Copenhagen.