NetNordic’s Acquisition of Bolero


Törngren Magnell KB advised NetNordic.

Oslo-based NetNordic Group has acquired Bolero, a Swedish provider of services related to cloud, cybersecurity, analytics, network, and other areas within system development. Through the acquisition, NetNordic will strengthen its capacity to deliver value-added solutions and services in the Nordic system integrator market.

NetNordic, majority owned by Norvestor VII L.P., continues its highly successful acquisitive growth strategy. NetNordic has the ambition to expand its solution and service portfolio, and through the acquisition of Bolero it will add competence and capacity in Sweden. Both companies work primarily with large and medium-sized customers in both the public and private sectors.

Bolero has 80 employees and a significant number of sub-consultants servicing the company’s customer base. The headquarter is located in Stockholm, with offices in Gothenburg and Linkjöping, Sweden. Last financial year revenues were SEK 270 million. Management shareholders in Bolero are reinvesting in NetNordic and will continue to focus on developing the business in Sweden and the Nordics.

NetNordic is a Nordic system integrator, specialized in the area of network, security, data centre and business communication. NetNordic deliver customer specialized solutions and services. NetNordic is headquartered in Oslo. NetNordic had approximately 1.8 billion NOK revenue (pro forma) in 2019. After the acquisition, the company has approximately 460 employees, and our solutions are distributed through subsidiaries in Norway, Sweden, Denmark and Finland. Majority shareholder in NetNordic is Norvestor.

TM & Partners’ team was led by Sten Hedbäck (Picture) and Philip Reznik and included Fredrik Gustafsson, Lisa Ericsson, Anna Elheim Sylten, John Park, Jacob Elovsson Hultin and Andreas Sahlstedt.

Involved fees earner: Jacob Elovsson Hultin – Törngren Magnell; Lisa Ericsson – Törngren Magnell; Fredrik Gustafsson – Törngren Magnell; Sten Hedbäck – Törngren Magnell; John Park – Törngren Magnell; Philip Reznik – Törngren Magnell; Andreas Sahlstedt – Törngren Magnell; Anna Elheim Sylten – Törngren Magnell;

Law Firms: Törngren Magnell;

Clients: NetNordic Group AS;