The founders, LK Finans AB and minority shareholders have entered into an agreement to divest Teknikmagasinet (Teknikintressenter i Norden AB) to Segulah V L.P.

Teknikmagasinet is a leading Nordic retailer with a wide assortment of value-for-money, high-tech gadgets and hobby products and a store network throughout Sweden, Norway and Finland, which was founded in 1989 by Jannis Östlund, Urban Printz and Bengt-Åke Printz. Currently, Teknikmagasinet has 119 stores and approx. 400 employees. In the fiscal year ending April 2015, sales amounted to approx. SEK 900 million (EUR 97.7 million).

The acquisition will be the first investment by Nordic private equity firm Segulah’s new fund, Segulah V L.P. Jannis Östlund and Urban Printz will continue to hold a significant stake in Teknikmagasinet.

The sellers were represented by Mannheimer Swartling in the transaction. The firm’s team was led by Jan Holmius, primarily assisted by Caroline Karlsson, Lisa Hulthén, Sophie Kastengren and Harry Westerman Wood. Stefan Perván Lindeborg and Emil Albihn Henriksson advised on competition law aspects and intellectual property matters, respectively.