CHG-MERIDIAN continues to expand with purchase of company in Scandinavia
Acquisition opens up direct market access to four Scandinavian countries
ACENTO Group: ideal strategic and geographical addition as part of the growth strategy
Mossakowski: "Finance and services portfolios are an excellent fit."
Technology management company CHG-MERIDIAN AG, headquartered in Weingarten, southern Germany, is continuing with its international expansion by acquiring the Oslo, Norway-based ACENTO Group. By acquiring a 100-percent stake in the group, CHG-MERIDIAN will gain direct market access to four Scandinavian countries at a single stroke. "This purchase is a well-timed step forward in our international expansion strategy," said the Chief Executive Officer of CHG-MERIDIAN AG, Jürgen Mossakowski. "The Scandinavian market has huge potential for us. We will unlock further impetus for growth by gaining customers that operate globally and by supporting customers from our branches in Scandinavia in the future.
CHG-MERIDIAN offers customized business concepts for the efficient management of investments in technology. It is a non-captive company that provides independent finance and technology advice and minimizes the workload of its customers at every stage of the technology lifecycle, particularly in the IT, telecommunications, industrial, and medical equipment sectors. CHG-MERIDIAN manages technology investments with a total value of more than €3.5 billion for over 8,000 customers. Headquartered in Weingarten, southern Germany, the company has 34 sites in 19 countries.
ACENTO reported revenue for 2013 of around €70 million and has generated continuous growth for more than ten years. It is one of the major providers of finance and services in the IT, industrial, and medical equipment sectors in Scandinavia. The company manages technology investments with a total value of more than €167 million for its customers. ACENTO has branches in Norway, Finland, Denmark, and Sweden, which creates a strategically important sales and marketing network.
Scandinavia: highly promising potential for growth
Scandinavia offers huge potential for the CHG-MERIDIAN Group's international expansion: Norway, Sweden, Finland, and Denmark form a growing economic area characterized by great competitiveness, a high export rate, and stable government finances and budgets. Industry experts reckon that there is still the potential for double-digit annual growth in the efficient management of technology investments. "Until now, the finance solutions available in the Scandinavian markets have predominantly been conventional products offered by banks and manufacturers," said Dr. Mathias Wagner, member of the Management Board and Chief Sales Officer International (CSO), who is responsible for business in CHG-MERIDIAN's foreign subsidiaries. "Integrated solution concepts for the entire technology lifecycle – such as those successively developed by CHG-MERIDIAN and ACENTO in recent years – do offer a great potential for us."
For CHG-MERIDIAN, the acquisition opens up the possibility of supporting international customers directly from its own branches in the Scandinavian markets. The company hopes that new customers in Scandinavia will also provide growth impetus. For that reason, the ACENTO Group will be integrated into the CHG-MERIDIAN Group, forming the Northern Europe region. It will play a major role in CHG-MERIDIAN's continued success alongside the existing regions of Central Europe, Western Europe, Southern Europe, Eastern Europe, and the Americas. The ACENTO co-shareholders will remain with the company in a management function, and the 50 or so employees will be retained.
Finance and services portfolios are an excellent fit
Both CHG-MERIDIAN and ACENTO reduce the workload of their customers at every stage of the technology investment lifecycle – predominantly in the IT sector – and are independent of banks, manufacturers, and other service providers. Customers benefit from support from a single point of contact in which technological and commercial expertise complement one another to provide added value. "Our finance and services portfolios are an excellent fit. For both companies, this step first and foremost means continued business success. But together we are also creating the potential for further growth and for the ongoing expansion of our services," said Jürgen Mossakowski.
One example is the two companies' identical focus on investments in the IT, industrial, and medical equipment sectors. Both have extensive experience in these areas and are gradually expanding their range of services. Another example is the remarketing of used equipment. Each company has its own dedicated Technology and Service Center (CHG-MERIDIAN's in Gross-Gerau, Germany and ACENTO's in Skien, Norway) responsible for ensuring that the logistics of rolling out and rolling back equipment run smoothly. Data contained in the equipment is erased securely so that customers' sensitive business information is protected. This is followed by professional remarketing of the equipment, which can then be reused.
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