mcare acquires leading Samsung repair company in Sweden

mcare acquires leading Samsung repair company in Sweden and opens a public opportunity to invest in a resilient and growing circular economy company.

mcare has expanded its product portfolio through a contract with Samsung and has acquired the mobile business of Nordic EASC AB, adding authorized Samsung repair capabilities to its portfolio with immediate availability for all current and future clients.

In the past two years, mcare has grown from the largest Apple-branded repair service company in the Nordic countries to a multi-brand repair service provider offering also OnePlus, Xiaomi, HMD Nokia, RealMe, Oppo and Huawei repairs. As a part of mcare’s three cornerstone strategy, multi-brand repair capabilities act as the core of mcare’s expanding business in addition to trade-in/buyback, and lifecycle contract services.

"By adding Samsung to our portfolio of brands, mcare will become much stronger in the market. mcare will be able to offer all the major brand repairs to its current and new customers. mcare will also develop the supporting lifecycle and buyback services boosting the growth in all areas. The recent years have shown that circular economy is making a big entrance to the markets and mcare is in a perfect position to make use of it. By offering repairs, lifecycle services, and buyback and reuse services, mcare a circular economy company at its core" mcare’s CEO Matti Uronen states. He has played a crucial role in implementing mcare’s new strategy emphasizing the circular economy since his appointment in 2021.

mcare has negotiated with several companies during the year 2022 to find M&A candidates. As a first successful milestone in M&A path, Nordic EASC AB’s mobile business focuses on Authorized Samsung repairs and has a dominant market position in Sweden. By acquiring Nordic EASC AB’s mobile business, mcare has become authorized for Samsung repairs within the Swedish market.

”We are actively scouting new M&A targets, which will support our expansion and growth of our business and service offering in the Nordic and European market” Chairmain of the Board Petri Kalliokoski adds.

mcare has started funding round, offering a convertible loan to its current and new investors. mcare seeks to raise a maximum of 2,5 million euros which will be used to support the expected growth of + 50% for the year 2023 from the current 20 million euros yearly revenue to 30+ million euros. mcare aims to reach 100 million in revenue by 2025. The current investment round will be closed when fully subscribed, or latest on the 10^th of November.

mcare is one of the largest repair and service companies within the Nordics, focusing on aftersales- and lifecycle services for Resellers, Telcos, Retailers, and B2B clients mcare also provides end-user/consumer repair and buyback services for all significant device brands. mcare is known for exceptionally high Customer satisfaction and is constantly innovating new ways conducting successful business. mcare was founded in 2009 and has since expanded the life of millions of devices.

More information:

Petri Kalliokoski
Chairman of the Board
+358 40 526 7122
petri.kalliokoski@mcare.fi

Matti Uronen
CEO
+358 44 092 6962
matti.uronen@mcare.fi