
Standout Capital acquires majority stake in Exsitec
Standout Capital has bought a 55% stake in Sweden-based IT consulting company Exsitec.
The former owners and management will retain a 45% ownership in the company. The fresh capital is intended to fuel the growth and development of Exsitec through organic growth to boost employee numbers and expand its product offering. Add-on acquisitions will also be considered in the Swedish market.
Standout Capital had been eyeing the company for more than a year before closing the deal, partner Klas Hillström told unquote". The private equity firm invests primarily in the IT sector in the Nordic markets.
Standout Capital is a Stockholm-based private equity firm investing primarily in Nordic technology companies and supporting their digital development. Its first fund, Standout Capital fund I, closed on SEK 1bn in August 2017. The GP closed its first deal when it backed a funding round for Finnish clinical software company BCB Medical earlier in August 2017.
Company
Headquartered in Linköping, Exsitec was founded in 2000 and also has regional offices in Stockholm, Gothenburg, Malmö, Örebro, Sundsvall and Söderhamn.
The company provides information technology consulting services. It resells Visma software and operates as a business partner for QlikView Mobigo, Comflow and Medius Flow. The company increased its turnover from SEK 30m to SEK 130m over the past five years and has 120 employees.
People
Standout Capital – Klas Hillström (partner).
Exsitec – Johan Kallblad (CEO).
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