‘The focus is Northern Europe’: Advania CEO

Hege Støre reflects on the VAR’s acquisition strategy, expansion and UK operations

Across the years, acquisitions have become synonymous with Advania.

Since 2020, the Sweden-based VAR has completed around five buyouts a year, helping transform the business into one of Northern Europe’s largest technology partners.

And the buying spree is far from over, as the organisation took over Evolv Robotics in Iceland less than two months ago, following its purchase of Cortex Consult A/S in Denmark.

In an interview with CRN, CEO Hege Støre says acquisitions will remain central to Advania’s long-term strategy, with Northern Europe continuing to represent the company’s biggest opportunity.

“The focus is Northern Europe,” she says.

“We know that market best, and we are strongest there.”

Today, the business operates across seven countries in the Nordics and the UKI while also maintaining talent hubs in South Africa, Sri Lanka, Poland and Spain to help address ongoing skills shortages.

Støre says the company remains on track to double in size over the next five years.

“We can still see growth, both top line and bottom line, across most countries,” she says.

Acquisition strategy remains unchanged

While buyouts remain a priority, Støre says Advania continues to take a selective approach.

The company assesses around 150 businesses every year, but only a small percentage ultimately become acquisition targets.

“It depends fully on the company - especially management,” she says.

“When we acquire, management is extremely important. We always assess culture and competence, and it needs to fit with the existing business.”

The organisation adapts its M&A strategy depending on the maturity and requirements of each local market.

Future acquisitions could also boost capabilities in areas such as AI and cybersecurity.

“It could be if we lack competence within areas like AI or security, and we find a company that fits perfectly with our business,” Støre tells CRN.

The UK also remains firmly on the acquisition agenda as the CEO says that deals are “absolutely” within its plans for the region.

“Whenever we acquire a company, we always have a plan to integrate it properly in the country.”

According to Støre, successful acquisitions depend just as much on cultural integration as operational integration.

“We need to make sure the business is running well, people are integrated, and the culture fits.”

The UK as a strategic market

Alongside the Nordics, Støre describes the UK as one of Advania’s most important markets.

“The UK market is very strong,” she says.

“The Nordics are strong as well, but the UK is a very important market.”

Støre is currently serving as interim CEO of Advania UK while the company searches for a permanent successor.

In February, UK CEO James Hardy stepped down to lead the firm’s high-performance computing (HPC) business unit, following a five-month tenure.

She says recruitment is progressing well, although the organisation is prioritising leadership qualities over technical expertise.

“We have met a lot of great candidates, and hopefully we will sign someone quite soon,” she says.

“For us it’s more about strong leadership, low ego, culture fit, being people-oriented and commercial capability.”

The exec believes Advania’s decentralised operating model continues to differentiate the company within an increasingly competitive market.

“We push decisions to the people closest to the customer, and that attracts talent,” she says.

The company’s UK branch ranks number 48 on CRN’s Top VARs list.