Adelis takes majority stake in AddPro

Its holding will stand at slightly more than 50%, with the remainder held by the founders and management. The company plans on using the capital to expand within the Swedish market as well as increase its service development.

The deal was made using capital from Adelis's maiden fund, which now has 14 portfolio companies; however, Adelis declined to confirm whether or not the fund was now fully invested. In June, it held a final close for its €600m second fund, after just three months on the road.

Previous Funding
In 2015, AddPro was acquired by its founders and partners in a management buyout just six months after being acquired by German private equity house Perusa.

Perusa acquired AddPro in a secondary buyout from Polaris, which took a 70% stake in the business in 2005. When Perusa acquired AddPro in 2014, it had 300 staff and expected revenues of SEK 630m.

Company
Founded in 2000, AddPro is an IT company that operates within IT infrastructure and security, with offices in Malmö, Gothenburg, Helsingborg and Kristianstad. The business expects a turnover of SEK 300m this year and employs 200 people, of whom 170 are technical consultants.

People
Adelis – Joel Russ (investment professional).
AddPro – Niklas Persson (CEO).

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• Topics
• Buyouts
• Technology
• Nordics
• Sweden
• Adelis Equity Partners