Katshing Netsales AB (Sweden) - Nov 2007

Ledstiernan AB has acquired an additional 20% stake in Katshing Netsales AB, a Swedish internet company for mobile technology, for SKr 8.4m, increasing its stake to 40%. Earlier this year, Ledstiernan, acquired the first 20% of the company for SKr 6m. This marked the first round of investment in the company. The agreement stipulated that Ledstiernan acquired 20% of the shares in Wazoo Holding AB which owned 100% of Katshing Netsales, and gave the investor the option to increase its stake in the business to 35-40% in a second phase. This option has now been exercised. The investor decided to increase its stake in the business because of its belief in e-retailing, and the company has in recent months proven its business model.

Company

Katshing Netsales, which was founded in 2003, is a retailer of mobile products and services through the internet. The company has experienced strong growth in recent years, with sales increasing by 95%, CAGR, the past two years. Sales for the last fiscal year (ended 30 April, 2007) rose by 119% to SKr 114m, and the company is expecting continued growth during the current fiscal year. The company is headquartered in Halmstad and has 12 employees.

People

Ulf Ivarsson led the deal process for Ledstiernan and is the chairman of the board of Katshing Netsales. Anders Steen is CEO of the company.

Sourced from: Nordic unquote" 68 (Dec 2007)

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