Sentica Partners merges AtBusiness and Trainers' House IT unit

Greg Gille
@unquotenews
05 August 2010

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Sentica Partners has merged portfolio company AtBusiness Oy with the IT project unit of Trainers' House.

A newly established holding company acquired all business assets of the IT project unit of Trainers' House and 100% the shares of Atbusiness Oy. Sentica Partners now owns 60.1% of the newco, with the remainder shared between Trainers' House and management.

Sentica did not inject any new equity into the holding company. The financing structure of Atbusiness was restructured and the private equity house realised some of its original investment.

The newly created structure will continue to operate under the AtBusiness name. The goal of the merger was to create a Finnish IT player of optimal size, able to provide a broader range of services and tackle larger projects, while continuing to respond flexibly to customer requirements. Sentica expects the business to grow rapidly following the merger, with an projected €16m turnover for 2010.

Sentica Partners acquired a majority stake in IT solutions specialist AtBusiness Oy from Capman in 2006. Following the merger, the company will now employ 170 IT specialists working in Helsinki, Espoo, Kuopio, Lappeenranta and St. Petersburg.