Altor sells SEK 222m block of Dustin shares

The partial exit sees Altor sell around 3.8 million shares to Swedish investment company Axel Johnson, which increases its stake in Dustin to 24%. In October, Altor completed its first sale of Dustin shares post-IPO, selling 14% of the company's share capital to Axel Johnson across two rounds.

Following the share sell-down, Altor will retain a 15% stake in Dustin, having reduced it from 34% since the GP took the retailer public in February 2015.

Previous funding
Altor acquired Dustin in a 2008 MBO that saw the GP take an 80% stake in the company through its 2006-vintage €900m Altor Fund II.

Dustin achieved a market cap of SEK 3.8bn when the GP floated the retailer on Nasdaq OMX Stockholm in February 2015, with just over half of the company placed in free float at the time.

In October 2015, Altor sold a 14% share block worth around SEK 600m to Axel Johnson.

Company
Founded in 1984 and based near Stockholm, Dustin is an online-based IT products and services retailer. The majority of its customers are businesses, but the firm does make some consumer sales.

The company reported net revenues of SEK 7.4bn in 2014 with adjusted EBITA of SEK 353m. Dustin has operations in Scandinavia and Finland, and employs around 960 people.

People
Altor – Harald Mix (managing partner).

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• Topics
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