DENMARK - EQT leads DKK 2bn KMD acquisition

The deal included a 50% debt component provided by Danske Bank, Nordea, Nykredit, FIH and ATP. ATP also provided 15% of the equity, with an equal share made through ATP Private Equity Partners II K/S and Via Venture Partners Fond I K/S, which is a subsidiary of the ATP Group. EQT will hold the remaining stake of 85%.

KMD provides IT solutions to Danish municipalities and recently also to state and corporate markets, with services including the development, operation and maintenance of IT systems. Founded in 1972 as Kommunedata, LGDK took ownership of the company in 2000. The business currently has 3,000 employees and generated revenues of DKK 3.2bn in 2007, with an operating profit of DKK 151m.

The new owners plans to continue the growth of the company through a continued focus on product development, enhancing the development of IT solutions for state clients, and a continued focus on BPO, including pay-roll and HR administration. EQT and ATP will also consider opportunities for growth through acquisitions in Denmark and the Nordic region.

The final closure is expected early next year when final approvals from the relevant authorities have been obtained.

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• Buyouts
• Nordics