Updated 29/08/2014
Technology management company CHG-Meridian has acquired Norwegian business Acento Group.
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Acento has offices in Norway, Finland, Denmark and Sweden, and the acquisition gives CHG direct access to these markets for the first time, according to a statement released by the firm.
In 2013, Acento reported revenues of approximately 70m, and manages technology investments totalling over 167m across the four Nordic countries. It provides finance in IT, industrial and medical equipment sectors across Northern Europe.
In a statement CHG said Acento is to be integrated into the CHG-Meridian Group, forming the Northern Europe region.
Acento co-owners will remain with the company in a management function, and all employees are to be retained.
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By GlobalDataJürgen Mossakowski, chief executive officer of CHG-Meridian, said; "Our finance and services portfolios are an excellent fit. For both companies, this step first and foremost means continued business success. But together we are also creating the potential for further growth and for the ongoing expansion of our services."
A spokesperson for CHG declined to comment on how much was paid for Acento, but revealed the two companies would be working together to develop a shared plan of integration, which would include a rebrand, over the next three to four months. The rebranding is expected to be completed ‘in the medium term.’
Although CHG is looking at other acquisition, the spokesperson said there was currently nothing to announce.
