Adelis buys three Danish business process outsourcers

As reported by Finans.dk, Adelis intends to merge the three businesses as the first step in a push to consolidate in what it views as a fragmented Danish business process outsourcing (BPO) sector. Following the merger, Adelis will have a 55% stake in the new group, which generates combined revenues of around DKK 300m and EBITDA of around DKK 40m.

The management teams of the three acquisition targets will invest alongside the GP, holding the 45% balance of shares. Adelis drew equity from its €410m 2013-vintage Adelis Equity Fund I for the buyout.

Companies providing BPO, enterprise software and other business IT services in the Nordic region have been popular targets for private equity in recent years, with several investments across Denmark, Sweden and Norway. In January, IK Investment Partners acquired Norwegian IT outsourcer TeleComputing from the Ferd family office.

Company
The yet-to-be-named new company will consist of IT Relation, Front-data and DSI-Next, which all provide IT outsourcing services. IT Relation CEO Henrik Kastbjerg will become the chief executive of the new group.

The group of companies has offices in Herning, Copenhagen, Århus and Odense.

People
Adelis Equity Partners – Steffen Thomsen (partner).

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