Procuritas merges 12 IT companies to create Frendy

The GP deployed equity from Procuritas Capital Investors VI, which held a final close in May 2017 on €318m.

After the transaction, Procuritas will become the majority shareholder, while the founders of the companies will have a significant minority ownership of the merged entity.

Frendy will deliver IT services for SMEs in Finland – a target market of €1bn annually. The new company will have 160 employees in 16 locations across Finland and will be headquartered in Helsinki, with revenues of more than €33m.

The management team of Frendy will be led by incoming CEO Mikko Peltonen.

Company
Headquartered in Helsinki, Frendy is an IT service for SMEs in Finland. It provides IT support, IT security, equipment, networks, data centre and cloud services as well as document handling via its local offices across the country.

Frendy has been created through the acquisition of 12 companies: Indatahouse, Indata, ItsPro, Isoweli, Tietokonemaailma, Datanix, Wintunix, R-Office, R-Office Uusimaa, R-Office Itä-Suomi, Soluto and Mikrovirta.

The company has 160 employees and has combined revenues of €33m.

People
Procuritas – Jussi Holopainen (investment manager); Johan Conradsson (co-managing partner).
Frendy – Mikko Peltonen (CEO).

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• Topics
• Buyouts
• Nordics
• Support services
• Procuritas
• Mid-market buyout
• Finland