Norvestor divests IT Gården
Norvestor VII, L.P. (“Norvestor”), has completed the divestment of IT Gården AB and its subsidiaries (together “IT Gården” or the “Company”), to Candidator DGC Management AB (“Iver”). IT Gården is a leading IT services outsourcing provider to small and medium-sized entreprises in the Skåne region.
Since Norvestor invested in IT Gården in December 2016, the Company has continued to deliver growth and high customer satisfaction. In November 2018 IT Gården acquired Dimac Hosting, a well-established IT outsourcing player in Helsingborg, Sweden.
“During Norvestor’s ownership IT Gården has strengthened its position in the Skåne region. We are very pleased to have supported the management team and IT Gården’s employees and their ability to continuously improve customer satisfaction whilst growing the business. We believe that IT Gården will fit very well with the Iver organization and contribute to the ongoing consolidation of the industry thereby strengthening IT Gården’s ability to serve its clients’ increasingly complex IT needs”, says Henning Vold, Partner at Norvestor Equity AS.
“Norvestor has been a key enabler for the growth and development of IT Gården over the last few years. They have assisted us in strengthening our organization as well as opening a new office in Malmö and they have shared their M&A expertise when we acquired Dimac Hosting in Helsingborg. I believe the potential of IT Gården, our employees and our customers will grow now that we will be part of a larger group. I am positive IT Gården will continue its impressive journey under the new ownership”, says Åge Lönning, CEO of IT Gården.
Norvestor was advised by StellaEOC and Cederquist in the transaction.
Signing of the transaction took place on 3 July 2019 and closing is expected to take place in August 2019.
The parties have agreed not to disclose the terms of the transaction.