Chiltern IT, a Buckinghamshire-based business founded in 1982, an HP parts Partner, was acquired by EET Europarts of Denmark under guidance from Polestar. EET will use Chiltern IT’s excellent facilities as a springboard to enhance its existing UK offering.
EET Europarts is part of the EET Group, founded in 1986, and today one of Europe’s leading distributors within IT, Security & Surveillance, Home Entertainment and Lifestyle Electronics.
Chiltern IT owner, Graham Nye, said the deal with EET Europarts concludes a sale process that began last summer with interest received from as far afield as Australia and Singapore.
“We have been talking to EET for years and there has always been a bit of flirting – so it didn’t surprise me that they came in with a good bid. We decided to choose EET as we felt they were the best partner for the business. I always wanted to hand over the business to someone that wouldn’t asset strip, but actually build the business.”
The Polestar team was led by partner, Charles Whelan, who commented:
“This transaction is a great result for our client following a highly competitive process. The deal brings together two unique peers with established track records and robust client bases. We are confident that the business is in the right hands and that EET will prove to be the ideal partner for Chiltern IT, ensuring it is able to capitalise on its growth potential.”
The company’s technology is market-leading and is in a unique proposition which distinguishes the business from its peers.
“The transaction illustrates the strong appetite from overseas buyers and we expect M&A to be a key growth route for industry players looking to strengthen their own market positions in future. We have thoroughly enjoyed working together with the shareholders and the management team to help them realise the significant value they have built in the business.”
