EQT picks up TIA Technology

EQT invested through its mid-market fund, which closed on €1.1bn at the start of the year, alongside the company's management team.

The buyout house will support TIA by boosting staff numbers and supporting product development. Furthermore, with the backing of EQT, TIA aims to capitalise on the current trend to standardise software systems in the European property and casualty insurance market.

Previous investment
According to unquote" data, DKA acquired TIA in December 2006 in a deal worth less than €1m.

Company
Established in 1986 and based in Virum, Denmark, TIA offers software focused on core insurance applications for property and casualties, as well as for composite insurers. The company currently serves 60 customers and 100,000 daily users across 40 countries.

People
As part of the transaction, Vagn Sørensen, former chairman of Automic, and Simon Lee, former group CEO of RSA Insurance, will join the board of directors.

Liselotte Munk is CEO of TIA. Jannik Kruse Petersen is partner at EQT.

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• Topics
• Nordics
• Buyouts
• EQT
• Denmark