Dustin acquires Dutch Vincere Groep, a leading player specialized in
managed
services with focus on cloud and security, along with IT-solutions
with
associated value added hardware and consultancy services. The company
focus on
small and medium sized companies and organizations within the public
sector.
Dustin’s addressable market will increase from 150 to 250 billion SEK,
as a
result of the acquisition.
The acquisition in short:

  · Acquisition of
one of the leading players within managed services and IT
-solutions with
associated value added hardware.
  · Increased growth within the current
strategy to increase the share of
managed services.
  · Strengthens Dustin’s
competence within managed services.
  · Vincere Groep had a revenue of EUR 67.1
million 2017 (LTM* 71.2) and an
EBITDA of EUR 5.6 million (LTM* 6.2).
  · The
purchase price amounts to EUR 65 million on a debt-free basis and is
financed
with existing credit facilities.

- We take the next step in our expansion and
export our successful business
model combining e-commerce and relation sales to
the Netherlands. Through the
acquisition, we increase our addressable market
and the Netherlands are very
similar to the Nordics both in terms of market
structure and customer needs.
Vincere Groep will be a natural part of Dustin,
contributing to further
strengthening our position for continued sustained
strong growth and margin
expansion, says Thomas Ekman President and CEO of
Dustin.

The company was founded in 2013 and is acquired from ABN Amro
Participaties and
the current management, who will remain with the company. The
purchase price
amounts to EUR 65 million on a debt-free basis.

- We are very
happy to become a part of Dustin, where we can continue to grow
and develop our
business, providing the best services and solutions to our
customers in the
Netherlands. We see a big potential in sharing experience and
best practices
between Dustin and Vincere, says Henk Makaske, CEO of Vincere
Groep.

Vincere
Groep will be consolidated in Dustin, today, July 4th.

Financing of the
acquisition and the Board's proposal regarding a new share
issue

The
acquisition of Vincere Groep will be financed with existing credit
facilities.
In order to fully implement the current growth strategy in the
Nordic region
and to take advantage of the growth opportunities identified in
the
Netherlands, the Board intends to propose a new share issue of SEK
500-700
million to the shareholders meeting, with preferential rights for
Dustin's
existing shareholders. The Board intends to return with a complete
proposal for
the new share issue during the autumn with the ambition that the
issue will be
put through and completed in 2018. Dustin's largest shareholder,
Axel Johnson,
supports the new share issue and intends to
participate.

Financial impact

Vincere Groep’s net sales for the last 12-month
period amounted to EUR 71.2
million, equivalent to SEK 736 million**. Based on
Dustin's net sales of SEK
10.039 million in the same period, the acquisition
corresponds to an increase of
around 7.3 percent. During the period, Vincere
Groep’s EBITA amounted to
approximately EUR 4.8 million, equivalent to SEK 49.6
million**, representing an
increase of around 10.5 percent for Dustin.

The
transaction increases earnings per share by approximately 12.5 percent based
on
the last 12 month period. The net debt ratio (Net debt / EBITDA) increases
from
2.0x to approximately 3.0x (pro forma), before a new share issue, as a
result
of the acquisition.

About Vincere Groep

Vincere Groep was founded in 2013 and
is specialized in managed services, with
focus on cloud and security, along
with IT-solutions with associated value added
hardware and consultancy
services. Vincere Groep has presence in eight locations
and have approximately
370 employees. The main target group is small and medium
sized businesses and
the public sector, primarily within education and
healthcare.

The group is
located in Amersfoort, Alkmaar, Assen, Delft, Enschede, Leeuwarden,
Sittard and
Zwolle and has a warehouse in Enschede.

http://www.vincere-group.com/

* LTM
June 2017 – May 2018

** EUR/SEK 10,34

Contact person:

Eva Ernfors, Head of
Information

eva.ernfors@dustin.se, +46 70 258 62 94

This information is
information that Dustin Group AB (publ) is obliged to make
public pursuant to
the EU Market Abuse Regulation. The information was submitted
for publication,
through the agency of the contact person set out above, at
08:02 CET on July 4,
2018.

About Dustin

Dustin is one of the leading Nordic resellers of IT
products with associated
services to companies, the public sector and private
individuals. With its core
business in e-commerce, Dustin functions as a bridge
between the manufacturer’s
wide-ranging offerings and customer requirements, in
which Dustin’s employees
support customers in finding the appropriate solution
for them.

Dustin is a one-stop-shop that offers some 250,000 products with
associated
services, features and solutions. Operations are conducted in
Sweden, Denmark,
Norway and Finland.

The company has approximately 1 000
employees. Sales during the 2016/17
financial year amounted to approximately
SEK 9.3 billion. About 90 per cent of
Dustin’s income derives from the
corporate market with a focus on small and
medium-sized companies. Dustin Group
has been listed on Nasdaq Stockholm since
2015 and has its head office in
Nacka, Stockholm.