IK Partners invests in Sitevision

The sponsor will support the company by investing in the platform, bolstering its position among its customer bases in Sweden, while also expanding the business internationally in the Nordics and beyond. Ik Partner's operation teams will support Sitevision in developing its business operations, according to a press release.

Carl Jakobsson and Erik Ingemarsson, partners at IK Partners, will join the company's board.

"Sitevision is growing at a significant rate organically through the business' ability to upsell and attracting new clients, main growth path is still organic but we'll be considering M&A," the sponsor said in an emailed statement.

The investment was made following an auction process for Sitevision.

IK Partners invested through IK Small Cap III Fund which held a final close on EUR 1.2bn in April 2021. The vehicle invests in buyouts of small enterprises across the Nordics and DACH regions, France and Benelux. It seeks a money multiple gross return of more than 2.5x and is expected to invest in 15-20 companies with EUR 50m - EUR 150m EV, according to Unquote Data.

Company
Sitevision was founded in 2002 and is headquartered in Örebro, Sweden. The company provides a cloud-based CMS and intranet products allowing its user to benefit from a unified platform that enables them to manage and publish content. Its clients include public institutions and mid-to-large corporate clients. The company is present in Stockholm, Gothenburg and more recently Oslo, as part of its plan to expand into Norway. The company employs 52 staff. 

People
Sitevision - Anders Korsvall, Karl Eklöf, Niclas Hedlund (co-founders).
IK Partners - Carl Jakobsson (director).

Advisers
Equity - Hannes Snellman (legal), Strategy& (commercial due diligence), Netlight (technical due diligence), PwC (financial, tax due diligence).

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• Topics
• Buyouts
• Nordics
• IK Investment Partners
• Sweden