CMS Distribution has acquired a majority stake in Scandinavian distributor Newgen Distribution.
Newgen's founder shareholders Axel Diurson and Max Ellberg will stay on with the business as joint MDs, and retain the remaining share capital.
CMS Distribution acquired a minority stake in Newgen as part of its acquisition of fellow distributor Widget earlier this year. That stake has now been increased to over 50%, making Newgen a subsidiary of CMS Distribution.
Frank Salmon, CEO of CMS Distribution, said: "CMS wants to become a significant player in continental Europe, opening up more opportunities for our suppliers and offering the benefits of scale to our customers."
Newgen will be managed separately from CMS Distribution BV, the group's 100% owned subsidiary in continental Europe, which is based in Eindhoven, Netherlands.