Hg-backed IT Relation buys Miracle42

Hg acquired IT Relation for an enterprise value of around DKK 1bn in June last year, drawing equity from HgCapital8.

IT Relation said the addition of Miracle42 was a significant step in strengthening its customer offerings in Denmark. All 50 employees will continue to work for Miracle42 under the new ownership.

Company
Miracle42 was founded in 2018 and is headquartered in Ballerup. Its competencies include database support, web hosting and other service desk and support services. The company has an additional office in Viby and employs 50 people.

People
Hg – Nick Jordan (partner); Jonas Samlin (principal).
IT Relation – Henrik Kastbjerg (partner).

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• Topics
• Portfolio management
• Nordics
• Technology
• HgCapital
• Build-up
• Denmark