- CMS Distribution now addresses customers in Scandinavia through partnership with Swedish distributor
December 6th, London – CMS Distribution Ltd, the value added distributor has built on its partnership with Scandinavian distributor Newgen Distribution AB by acquiring a majority stake in the business.
Newgen’s founder shareholders Axel Diurson and Max Ellberg will stay on with the business as joint managing directors, and retain the remaining share capital.
Newgen supplies key retailers in the region with a range of products. Sales in 2016 are expected to exceed SEK 130 million (£11.3m) up 100% on the previous year.
CMS Distribution acquired a minority stake in Newgen as part of its acquisition of fellow distributor Widget earlier this year. That stake has now been increased to over 50%, making Newgen a subsidiary of CMS Distribution Ltd.
Frank Salmon, CEO of CMS Distribution said “We are delighted to increase our involvement with the Scandinavian markets. CMS wants to become a significant player in continental Europe, opening up more opportunities for our suppliers and offering the benefits of scale to our customers.”
Newgen will be managed separately from CMS Distribution BV, the group’s 100% owned subsidiary in continental Europe, which is based in Eindhoven, Netherlands.
END
About CMS Distribution
Established in 1988, CMS Distribution is a leading specialist distributor supplying business and consumer technologies.
The company is strictly trade only, selling to B2B and B2C partners, servicing corporate resellers, managed service providers, high street and online retailers. These range from large multi-nationals to smaller, independent IT companies.
CMS Distribution helps IT vendors and channel partners grow their business, by taking emerging technologies to market whilst developing established brands using a range of value added services.
The company employs over 270 people across seven locations in the UK, Ireland, the Netherlands and Sweden, and is forecasting revenues in excess of £300m for 2016.
Source: RealWire
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