3 Step IT and BNP Paribas Lease Group have signed the agreement on the acquisition on 27 January 2010. The transaction will be completed during the first quarter of 2010. The parties have agreed not to disclose the value of the transaction.
BNP Paribas Lease Group has become, after the acquisition of Fortis Lease Group in 2009, the leading leasing company in Europe with a presence in more than 20 countries and more than €33 billion of outstandings. The BNP Paribas Lease Group’s Scandinavian subsidiaries achieved more than EUR 100 million in turnover in 2008 and employ 38 people, all being transferred to 3 Step IT. Currently 3 Step IT has one employee in Denmark, one in Norway and seven in Sweden.
“The acquisition strongly supports our strategic growth and internationalisation process and elevates our business operations to a whole new level. The business acquisition directs significant positive cash flow into 3 Step IT and presents significant growth potential in the Scandinavian market. We will obtain valuable local competence, an extensive customer base and a valuable network of partners. A stronger position in Scandinavia will turn 3 Step IT into a significant European operator, which supports our growth strategy in other market areas, such as Great Britain and France,” says Artti Aurasmaa, CEO of 3 Step IT Group.
According to Jarkko Veijalainen, Chairman of the Board of Directors of 3 Step IT Group, BNP Paribas Lease Group’s Scandinavian operations represent the perfect acquisition for 3 Step IT.
“In addition to organic growth, we have examined other possible acquisitions but, with the BNP Paribas Lease Group entities in Scandinavia, all the pieces fit together regarding the operations, business culture and business attitude,” says Veijalainen, providing reasons for the acquisition.
3 Step IT Group’s turnover in 2009 stood at EUR 220.8 million. Through the business acquisition, 3 Step IT Group estimates its total turnover in 2010 will increase to EUR 350 million. Number of customers of joined entity will exceed 2,500.
For additional information, please contact
Mr. Artti Aurasmaa, CEO, 3 Step IT Group
Tel: +358 50 543 2222
E-mail: artti.aurasmaa(a)3stepit.com
Mr. Jarkko Veijalainen, Chairman of the Board of Directors, 3 Step IT Group
Tel: +358 50 543 2211
E-mail: jarkko.veijalainen(a)3stepit.com
Mrs. Karine Rifaï, Head of Internal and External Communications, BNP Paribas Lease Group
Tel : +33 (0)1 41 97 14 54
Email: karine.rifai(a)bnpparibas.com
Fortis Lease Denmark, Fortis Lease Norway and Fortis Lease Sweden are companies particularly specialised in providing leasing financing to hardware sellers. The companies hold a strong position in IT leasing in the Nordic countries. The companies are part of the international leasing company Fortis Lease Group, now part of the BNP Paribas Lease Group. The Fortis Lease Nordic companies employ 38 personnel and total turnover in 2008 surpassed EUR 100 million.
3 Step IT is an international service company specialising in the management of the acquisition, use and replacement of technology and other fixed assets. 3 Step IT facilitates and improves the efficiency of the management of fixed assets within companies and organisations. 3 Step IT provides a sensible management model, consisting of leasing, an asset register that produces versatile information and reports, and environmentally friendly replacement. Furthermore, the customer is supported by a dedicated service team that assists the customer in all stages related to asset management. Currently 3 Step IT operates in 10 countries (Finland, Sweden, Denmark, Norway, UK, France, Russia, Estonia, Latvia and Lithuania) and it has over 135 employees. 3 Step IT was founded in Finland in 1997 and the company has shown strong and profitable growth ever since.
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