HomeNordlo plans several acquisitions in 2025: ‘We have many active dialogues underway’

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Nordlo plans several acquisitions in 2025: ‘We have many active dialogues underway’

After a record number of acquisitions in 2024, and a total of 17 since its founding in 2018, Nordlo aims to accelerate in 2025. With just over SEK 1.5 billion in an investment fund from owner FSN Capital Partners, the IT group is now looking at acquisitions both in Sweden and abroad.

- It's a bit of a buyer's market at the moment, which favours more acquisitions. IT companies today are generally not valued as highly as they were a few years ago,’ says Fredrik Almén, CEO of Nordlo.

In 2024, Nordlo acquired five IT companies in Sweden and Norway - Stockholm-based EPM Data, Alingsås-based Knowe, Sundsvall-based N62 IT Solutions, Skåne-based family business IXX and Norway-based Promotek. When Nordlo looks at potential acquisition companies, the focus is primarily on finding companies with strong customer and employee satisfaction and that can add expertise to Nordlo's continued development.

- ‘We have a handful of dialogues going on all the time, and our absolute aim is to maintain the same acquisition rate or higher over the next year.

- We are careful at an early stage in the process and do a proper initial due diligence. This makes it highly likely that we will finalise the acquisition when we decide to proceed to the negotiating table.

In August 2024, the owner company FSN Capital Partners injected just over SEK 1.5 billion into an investment fund to be used for acquisitions both in Sweden and abroad.

- ‘If we look back, we buy an average of three to five companies every year. In 2024, there were five acquisitions and because we have a proven and standardised integration model, we can integrate more companies than we have historically acquired. So there's no reason why there won't be even more in 2025.

17 acquisitions in six years

Nordlo was formed in 2018 through the merger of Zetup, Office IT-Partner and Dicom. Since its inception, Nordlo has completed 17 acquisitions in Sweden and Norway. One of the first companies Nordlo acquired was the Norwegian company Lerøen Datapartner, which doubled its turnover in the following two years. Today, the company has a turnover of SEK 130 million, compared with SEK 30 million the year before the acquisition.

- ‘With Nordlo behind us, we gained a completely different breadth of expertise and a well-known brand that enabled us to start working with larger customers. Quite simply, we were able to grow both more and faster, and it also became easier to recruit cutting-edge expertise,’ says Bjørn André Lerøen, who founded Lerøen Datapartner, and is currently business area manager for Nordlo Norway.

One of the companies Nordlo acquired in 2024 is the Scanian family business IXX, which became part of Nordlo in June.

- ‘We had built a stable company with strong local roots, but realised that it would be difficult to continue delivering end-to-end solutions on our own while maintaining the right level of expertise. Nordlo has really shown that it values local players and their unique strengths. We feel that we are still IXX, but with completely different muscles and resources behind us,’ says Mattias Christensson, CEO of IXX and part of the founding family.

Nordlo's acquisitions since the start in 2018

2018: Zetup, Office IT Partner, Dicom (founding company)
2019: Netcomp, IT total
2020: Lerøen Datapartner, Nisec, Appex Operations, Insignis IT
2021: Acon AB
2022: Interlan, Fana Data
2023: Netsense, iSky, SSC Networks
2024: N62 IT Solutions, Promotek, IXX, EPM Data, Knowe

If you want more information - contact:
Fredrik Almén, CEO of Nordlo, 070-333 15 59, fredrik.almen@nordlo.com

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