Firm business

Scottish tech provider acquired by Swedish investment firm

ETB Technologies, based in Dalbeattie, was majority acquired by the Swedish investment company Röko.

The deal – for an undisclosed amount – is expected to be finalized in March.

Chief Executive Nick Stapleton will remain in his role, while Tomas Billing, Founder and Chairman of Röko, and Anders Nordby, Chief Investment Officer for Norway and the UK at Röko, will join ETB Technologies’ Board of Directors.

There will be no other structural or operational changes to the company, which resells refurbished servers, storage and networking equipment

Stapleton said: “Over the past two decades we have built ETB to become a multi-million pound business and major employer in the south of Scotland.

“As we have grown, this has attracted more customers internationally, with 40% of our customers being based in the EU; and we recognize the potential to increase this.

“Although ETB has already attracted investor interest, it was essential for me that any potential partner support our growth while allowing us to maintain our culture and our independence – the integration of Röko will not only add to the financial strength of the company, it will support our international growth while allowing us to continue our operations as they currently exist.

Nordby added, “As the business is based on making a difference for the community while contributing to sustainability goals by extending the life of IT hardware, we truly believe the business is in a strong position. to continue its growth.

“The organization is an incredible achievement, and we look forward to working closely with Nick and the entire team to realize his bold growth ambitions.”

Röko also owns other UK businesses: Rocket Medical, Sixty Stores, 4×4 Accessories & Tires and Renovotec.

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