IK Investment Partners acquires OpenSolution

The deal sees IK keep up the pace of investment for its recently closed debut small-cap fund, IK Small Cap I Fund, which held a €277m final close in March and has now made six investments.

A spokesperson for IK told unquote" the transaction was leveraged with an all-senior debt package provided by Nordea.

OpenSolution had been looking for outside capital to support the company's development and growth. With IK as a shareholder, the company will look to scale internationally.

The transaction terms have been agreed, but remain subject to legal approvals.

Company
OpenSolution is a Gothenburg-headquartered payments software and services business focusing on the service industry.

It offers point-of-sale development and products on fixed and mobile devices, payment terminals and related services. OpenSolution's client base includes food service businesses, casinos and arenas.

The company had revenues of SEK 80m with around SEK 16m of EBITDA in 2015 and employs a staff of 30.

People
IK Investment Partners – Kristian Carlsson Kemppinen (partner).
OpenSolution – Christian Johansson (founder, CEO).

Advisers
Equity – EY (tax, financial due diligence); AT Kearney (commercial due diligence); Vinge (legal); Intuitus (IT due diligence); JLT (insurance due diligence).

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