Stockholm, Kristiansand, May 23 2007. On May 21st CapMan and Segulah agreed to merge the two companies, InfoCare AS and Powermill Service Group, creating the leading independent IT and home electronics servicing company in the Nordic and Baltic region.
The merger will create a leading and independent Nordic service partner which will guarantee customer’s demand of high quality and provide expertise in increasingly complex and sophisticated products and services. Powermill’s modern concept for the digital home and InfoCare’s well established Nordic corporation within IT-services is the rationale behind joining the two businesses.
Commenting on the merger Terje Gunnulfsen CEO of InfoCare said:
”The merger will allow us to consolidate our market position in the Nordics within the increasingly competitive European services market. The merger will also allow for an industrialisation of the businesses which is required in order to meet growing international competition and rising customer demands. By retaining the servicing in the domestic markets we will cut the turnaround time for our customers.
Kent Bladh CEO of Powermill said:
”The two companies have great synergies. With InfoCare’s broad services-business and Powermill’s well established workshop network we will be able to offer our customers tailored service solutions. The merger will strengthen our presence in the Nordic and Baltic countries.”
The new company will take the name InfoCare. The Chairman of the merged company will be Powermill’s current chairman Per-Arne Sandström, previously COO of Ericsson. Terje Gunnulfsen, InfoCare’s current CEO will take on the role as CEO of the new company. Powermill’s current CEO Kent Bladh will be Vice President and responsible for strategic development.
The new company will have a presence in Norway, Sweden, Denmark, Finland and Estonia with a total of 2 100 employees. The estimated turnover for 2007 is 1 900 MSEK.
CapMan and Segulah will remain the main shareholders in the new company, along with the board and key individuals. The merger is subject to approval from the competition authorities.
For further information please contact:
Per-Arne Sandström, Chairman, Powermill Service Group, Telephone +46 70 590 28 83
Terje Gunnulfsen, CEO InfoCare, Telephone: +47 918 98 008
Kent Bladh, CEO Powermill Service Group, Telephone: +46 70 536 83 50
Markus Sjöholm, Senior Partner CapMan, Telephone: +358 4050 80 121
Christian Sievert, CEO Segulah, Telephone: +46 70 866 96 94
InfoCare is the leading Nordic IT-services corporation. The company operates in collaboration with the market’s leading outsourcers, suppliers, system integrators and retailers. We are authorized to give services to the leading manufacturers at the Nordic market. InfoCare have 1,570 employees in 69 locations across Norway, Sweden, Denmark and Finland. Included in this, 450 employees work within the six service-workshops in Växjö, Stockholm, Oslo, Kongsvinger, Köpenhamn and Helsingfors. The company’s turnover is currently close to 1 350 MSEK (150 M€) per year. www.infocare.com
Powermill Service Group with workshops in Stockholm, Norrköping, Linköping, Helsingborg, Vänersborg, Helsingfors, Tallinn, Köge and Odense offers installations, support and servicing of home electronics, IT and communications products. We are certified to carry out guaranteed repairs for all the leading manufacturers.
Powermill also have nationwide networks for delivery, installation and on-site servicing for companies and consumers in Sweden and Finland. The corporation currently have 534 employees and a yearly turnover of
550 MSEK (60 M€). www.powermillgroup.se