Bahrain-headquartered private equity firm Investcorp has acquired a majority stake in Danish professional services marketplace Ageras from the company's founders.
Investcorp will hold a 60% stake in Ageras as a result of its investment, with company's founders and management retaining the balance. For equity in the transaction, the investor tapped its Investcorp Technology Partners vehicle, a fund targeting European lower-mid-market technology assets.
According to the GP, the investment is the first time Ageras has taken institutional capital since inception.
Ageras is Investcorp's second investment in Denmark, where it currently owns jewellery and designer homeware maker Georg Jensen – acquired from Danish GP Axcel for $140m in November 2012.
Headquartered in Copenhagen, Ageras is an online marketplace for SMEs to requisition professional services such as accountants and lawyers. With a staff of 44, the company operates in Germany, the Netherlands and the Scandinavian countries.
According to publicly available information, Ageras registered revenues of DKK 30m in 2015, up from DKK 16.8m the year before, with gross profits of DKK 18.6m in 2015, up from DKK 10.4m in 2014.
Investcorp – Gilbert Kamieniecky (managing director).
Ageras – Rico Andersen (CEO).
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Heikki Westerlund had taken up his position in 2013 and will stay on until a replacement is appointed
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