Altor sells SEK 350m of Dustin shares

The sell-down saw Altor divest 5.7 million shares at SEK 61 apiece, equivalent to a 7.5% stake worth just over SEK 350m. Following the sale, the GP's remaining 2.5% shareholding will be subject to a lock-up until 11 January 2017.

At SEK 61 per share, the selling price represents a premium of 22% on Dustin's listing share price of SEK 50.

Previous funding
Dustin was listed on the Stockholm Stock Exchange in February 2015, at a market cap of SEK 3.8bn, seven years after the company had been bought by Altor.

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.

Company
Founded in 1984 and based just outside 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.

Dustin has operations in Scandinavia and Finland, and employs around 960 people. In the 12 months to August 2016, the company had net sales of SEK 8.3bn and operating income of SEK 324m.

People
Altor – Harald Mix (managing partner).

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