EQT sells Iver to ICG

Iver was founded in May 2018 through the merger of EQT portfolio companies Candidator and DGC IT Services, which were acquired in February 2018 and May 2018, respectively.

The company has completed 10 strategic add-ons in Sweden and Norway since the merger. EQT added that, under its ownership, the company more than tripled its revenues, amounting to SEK 2.5bn (€246m) in 2020.

ICG is currently deploying its ICG Europe Mid-Market Fund, which held a final close on €1bn in January 2020.  

The transaction is subject to regulatory approval and expected to close in August 2021.

Company
Founded in 2018 through the merger of EQT portfolio companies Candidator and DGC IT Services, Iver is a provider of IT-outsourcing services and focuses on multi-cloud, digital transformation, cybersecurity and DevOps services.

Iver employs 1,300 people across its 25 local offices in Sweden and Norway, and had SEK 2.5bn in turnover in 2020. 

People 
EQT – Albert Gustafsson (partner).
Iver Holding – Carl-Magnus Månsson (CEO). 

Advisers 
Vendor – EY (financial due diligence, tax); White & Case (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Buyouts
• Nordics
• Support services
• EQT
• Livingbridge
• United Kingdom