PRINT THIS PAGE Industri Kapital to sell ELFA for €222m19/03/2008. Source: AltAssets. 
Industri Kapital has agreed to sell electronics distributor ELFA for SEK2.1bn (€222m). The European buy-out firm made more than three times its original investment and recorded an IRR of 90 per cent, according to sources close to the deal. ELFA distributes its products to the Nordic countries, Poland, the Baltic countries and Russia. Headquartered in Stockholm, the company has over 400 employees. In 2007, ELFA recorded sales of SEK987m (€105m).
IK acquired the company in 2006 for €130m. Under IK's ownership, it acquired Tevalo Group, CLL and Øistein Røed.
Michael Rosenlew, partner, IK, said, 'ELFA has been a very good investment for IK. We are pleased to have worked closely with management to grow and develop the business. We have successfully demonstrated IK's strategy of both organic and acquisition led growth together with a focus on operational improvements.'
IK closed its sixth fund, Industri Kapital 2007 Fund, on €1.7bn in 2007.
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