Triton completes €387m take-private bid for HiQ International

The shares tendered in the public offer via the Trisall holdco amount to 50.87 million shares, or 91% of the shareholding and voting rights in the company. The offer valued the stake at SEK 4bn (around €387m).

The GP is investing from Triton Fund V, which held a final close in January 2019 on its hard-cap of €5bn. The vehicle targets northern European mid-market buyout opportunities. 

Trisall had previously made an offer of SEK 70 per share. The price was later increased to SEK 72 per share.

Company
Founded in 1995 and based in Stockholm, HiQ is a Swedish IT company and management consultancy specialising in B2B tech services, including software development, creation of IT systems such as digital payment platforms and mobile banking, and providing tech due diligence.  

It currently employs 1,500 staff in four countries and was previously listed on the Nasdaq Stockholm MidCap list. In the first half of 2020, the company generated net sales of SEK 917.8m and an operating profit of SEK 92.9m. 

People
Triton – Peder Prahl (director).

Advisers
Company – Danske Bank (financial due diligence); Setterwalls Advokatbyrå (legal).

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• Topics
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