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EET Group acquires Convena Distribution
24 May 2023
The acquisition of Convena Distribution is consistent with EET’s focused expansion strategy and solidifies its position as a prominent Pan-European market leader in the value-added distribution of IT products.
EET and the owners of Convena Distribution A/S have entered into an agreement that EET Group with effect from 23 May 2023 takes over all shares in the Convena Group. Convena Distribution has a yearly revenue of € 80 million and is one of the leading international IT distributors in Europe with over 19 years of industry experience. A team of 90 dedicated staff members serve more than 4000 customers in +30 countries with offices located in Denmark, Germany, Finland, France, the United Kingdom, the Netherlands, and Sweden.
We are delighted to welcome Convena into our EET family. This acquisition is a strong strategic move for us, as it significantly strengthens our market position and competencies through a powerful commercially driven organization servicing a large customer base. This aligns seamlessly with our broad range of services supported by strong supplier relations and will further establish EET as a leading player in the value-add IT distribution industry.
Søren Drewsen, CEO, EET Group
Convena Distribution has a strong reputation in the industry for its service quality and commercial mindset, and EET intends to leverage this by adapting Convena Distribution’s expertise and capabilities into its current operations. This acquisition will provide EET with a further competitive edge in the market and drive growth.
We are very proud of the journey Convena has taken during the past years and the incredible team who have built Convena into the company it is today. We are pleased that Convena is acquired by a company that shares our values and we are confident that the Convena commercial spirit will nourish from EETs well-founded skills, sophisticated technology platform and impressive product portfolio. Our customers will be in good hands with EET.
The acquisition of Convena Distribution is the latest in a series of strategic actions by EET to expand its business and position itself for long-term growth. Convena Distribution is EET Group’s 30th acquisition since 2015 and the second in 2023, following the Belgium distributor Tridis which was acquired in April.
The financial terms of the acquisition were not disclosed.
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