Equip Capital buys IT consultancy Miles

The GP will buy a 60% stake in Miles, alongside the company's employees, who will retain the remaining 40%.

The acquisition includes all of Miles's subsidiaries in Bergen, Stavanger and Trondheim in Norway, and its software development firm Vegvisir in Vilnius, Lithuania.

The GP is currently deploying its first fund, which was launched in December 2018 and held a final close last month on its hard-cap of €180m. The vehicle has so far made seven platform investments and typically invests €10-30m in high-growth Nordic SMEs.

Company
Founded in 2005 and based in Oslo, Miles is an IT consultancy providing project delivery, user experience advisory and agile coaching. It has 200 employees and additional branches in Bergen, Stavanger and Trondheim. It also owns software development company Vegvisir in Vilnius, Lithuania.

People
Miles – Tom Georg Olsen (CEO).

Advisers
Company – KPMG (M&A); KPMG Law (legal); Arntzen de Besche (legal).

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