Nordic distributors forge joint venture
Elko-owned Gandalf invests in TT Micro
Elko-owned Swedish distributor Gandalf Distribution has formed a joint venture with Norwegian counterpart TT Micro. Latvian distribution powerhouse Elko entered the Nordics in 2017 when it acquired an 85 per cent stake in Malmö-based hardware and components specialist Gandalf, which at the time had 40 staff and revenues of around €70m. It has turbo-charged its business in the region through this latest joint venture, which sees Gandalf investing in Oslo-based TT Micro. Founded in 2001, TT...
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