Swedish Investment Firm Röko Acquires ETB Technologies

“Over the last two decades, we have built ETB to become a multi-million-pound business and a major employer in the South of Scotland."

Scottish firm ETB Technologies has been majority acquired by the Swedish investment company Röko for an undisclosed amount.

ETB is a reseller of refurbished servers, storage and network equipment. It is based in Dumfries & Galloway and was founded in 2001.

Nick Stapleton, MD at ETB Technologies, will remain in his role. Tomas Billing, founder and chairman at Röko, and Anders Nordby, investment manager for Norway and the UK at Röko will join the ETB board alongside Stapleton. There will be no other structural or operational changes to the business. ETB has 60+ employees, according to its website.

Stapleton comments: “Over the last two decades, we have built ETB to become a multi-million-pound business and a major employer in the South of Scotland. As we have grown, this has attracted more customers internationally, with 40% of our customers based in the EU and we recognise the potential to increase this. While ETB has previously attracted investor interest, it was a must for me that any potential partner would support our growth while allowing us to retain our culture and independence. Bringing Röko on board will not only add to the company’s financial strength, it will also support our growth internationally while allowing us to continue operations as they currently exist.”

Nordby adds: “As the business is based on making a difference to the community while contributing to sustainability goals by extending the life of IT hardware, we truly believe the company is in a strong position to achieve further growth.”

According to LinkedIn, ETB’s clients include corporates, the education and trade sectors, and SMEs.

The deal is expected to be completed in March.

Stockholm-headquartered Röko also owns other UK businesses – Rocket Medical, Sixty Stores, 4×4 Accessories & Tyres and Renovotec.

Röko has €270 million (£201 million) in capital. It focuses on owning SMEs and has more than 15 companies in a variety of industries across Europe.

Antony Peyton
Antony Peyton
Antony Peyton is the Editor of eWeek UK. He has 18 years' journalism and writing experience. His career has taken him to China, Japan and the UK - covering tech, fintech and business. Follow on Twitter @TonyFintech.

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