Elovade has acquired the Swedish distributor Inuit AB to enhance its product portfolio and strengthen its market position in the Nordic region, with support from its investors HQ Equita and Verdane.

Target Information

Elovade, a leading value-added software distributor based in Europe, has announced its acquisition of Inuit AB, a Swedish distributor specializing in IT solutions. For nearly 30 years, Elovade has established a strong presence in the market, and with this acquisition, the company aims to enhance its product portfolio in key segments such as IT security and infrastructure software. Inuit AB will expand Elovade's reach, particularly in the Nordic region, through its focus on IT service management (ITSM) and partnerships with larger managed service providers (MSPs).

The acquisition of Inuit AB marks a significant step in Elovade's growth strategy, complementing their existing successful mergers and acquisitions, which have included the establishment of a Swiss branch and the integration of other distributors across Europe. The collective efforts of Elovade’s management team and its seasoned investors, HQ Equita and Verdane, have resulted in considerable growth, with the group's revenue and EBITDA increasing more than 3.5 times since HQ Equita joined in 2019.

Industry Overview in Sweden

The IT distribution industry in Sweden has witnessed significant growth due to increased demand for advanced IT solutions and services. Swedish companies are increasingly investing in digital transformation, which boosts the ma