November 17, 2017

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ELKO Group takes stake in Gandalf

by Stuart Wilson, Monday 10 July 2017

Svens Dinsdorfs, CEO at ELKO Group
Svens Dinsdorfs, CEO at ELKO Group

Latvia-based distributor ELKO Group has snapped up an 85% stake in Gandalf Distribution AB – one of the leading distributors of computers and peripheral products in Sweden. With over 30 years of experience in distribution and sales offices in Stockholm, Gothenburg and Malmö, Gandalf has gained a strong position in the storage and component distribution markets in Sweden and the Nordic region.

Svens Dinsdorfs, CEO at ELKO Group, said: “ELKO has been looking for geographical expansion opportunities for some time. Gandalf’s business model and operational structure is very similar to our own and thus we feel confident about this acquisition.”

“Gandalf’s team is highly motivated and professional and we feel comfortable about the coming integration process and ensuing synergy. By becoming a part of the ELKO Group, Gandalf will be able to significantly expand its product portfolio and benefit from various competence-sharing initiatives,” he added.

Gandalf will become a part of the ELKO Group, but for now will continue to operate under the Gandalf brand. David Nicander will continue to work as the CEO and remain as a minority shareholder of Gandalf Distribution AB.

David Nicander, CEO at Gandalf, said: “Gandalf has for many years successfully grown together with our customers and partners, and today we have taken a new step towards the next level of distribution. I am personally very proud of the opportunity to become part of the ELKO Group, and all the positive opportunities that this gives us at Gandalf to grow and expand our business in the Nordics.”

Gandalf was established in Malmö in 1984 and currently has 40 employees. Gandalf distributes IT-related hardware – laptops, hard drives, monitors, graphics cards, network products and components – to dealers across the Nordic region. Gandalf is one of the region’s largest privately-owned distributors with annual sales of US$76.5m.

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