March 29, 2019
The Swedish online IT-partner Dustin has signed an agreement to acquire Finnish Chilit Oy that is specialised in products, services and solutions for the SMB-segment.
Chilit has a broad IT-offering that is combined with a strong sales force and a growing share of recurring offering to small and medium sized companies.
Chilit complements Dustin in a very good way, combining products with services to deliver smart IT-solutions to small and medium sized companies. The acquisition strengthens our position in the SMB-segment and we see opportunities for great synergies with our existing operations, said Alexandra Drevenlid, EVP Services & Solution Nordic.
The company was founded in 2010 and had revenues of EUR 33.7 million in 2018. They have around 60 employees and offices in Helsinki and Turku. Chilit is acquired from a private equity fund managed by Sentica Partners Oy, the management and a group of employees.
As a part of Dustin we will be able to continue to develop as a full service partner and will benefit from Dustin’s experience of developing service offerings, said Kimmo Juuti CEO of Chilit.
Chilit will operate under its own brand until further notice and the management will stay with the company. The acquisition is depending on approval from the Finnish competition authority, the decision is expected within 30 days.
The acquisition is expected to have marginal impact on Dustin’s earnings per share in the current financial year.
Contact our Team Members advising in this transaction:
Translink Corporate Finance Finland, based in Helsinki, is one of the leading M&A boutiques in the Finnish market. Since its foundation more than 15 years ago, their partners completed more than 100 M&A transactions in different industries, worked closely together with a number of business partners and industry players, both locally and internationally. In addition Translink Finland is a Certified Adviser on NASDAQ OMX First North.
