Adelis Equity Partners Fund III (“Adelis”) has agreed to divest its majority stake in netIP A/S (“netIP”), a leading one-stop IT partner and managed services provider to Danish SMEs, to Synova, a European growth-focused private equity firm. netIP’s management team will reinvest alongside Synova in the next phase of the company’s development.
In September 2022, Adelis became the majority owner of netIP. At the time of the acquisition, netIP was a regional IT provider with around 165 employees across seven offices in Denmark. During Adelis’ ownership, netIP has more than doubled revenues and tripled EBITDA. This was achieved through a combination of strong organic growth and five add-on acquisitions, alongside continued investment in the organization, service offering and delivery platform.
Today, netIP is one of the leading managed IT service providers in Denmark, with more than 270 employees across eleven offices nationwide, serving SMEs with a full-service offering within IT outsourcing, infrastructure, cloud, AI services, cybersecurity and consulting.
“The past four years with Adelis have been a defining chapter for netIP. Together we have more than doubled the business, welcomed five new companies into the netIP family and built a nationwide organisation, while staying true to what defines us: being close to our customers and putting our people first. We want to thank Adelis and the Board for their strong support throughout. With Synova, we have a partner that shares our ambition to become the preferred IT partner for Danish SMEs, and we look forward to the next phase of the journey", say Brian Vesterbæk and Joakim Halvorsen, Co-CEOs of netIP
“Together with the management team, netIP has developed from a strong, locally rooted player into the leading nationwide one-stop IT partner for Danish SMEs. The team has combined consistent organic growth with disciplined M&A, integrating every acquisition fully into one operating model while keeping the local presence and customer proximity that netIP is known for. We are proud of what we have achieved together and are convinced that netIP will continue its successful growth journey together with Synova”, say Martin Welna and Jesper Bahlke at Adelis Equity Partners.
The transaction is subject to customary regulatory approvals and is expected to close around the turn of the year.
For further information:
Brian Vesterbæk, netIP
Phone: +45 82 19 44 03
E-mail: bve@netip.dk
Joakim Halvorsen, netIP
Phone: +45 27 77 44 52
E-mail: jha@netip.dk
Martin Welna, Adelis Equity Partners
Phone: +45 21 99 67 57
E-mail: martin.welna@adelisequity.com
Jesper Bahlke, Adelis Equity Partners
Phone: +46 70 410 45 24
E-mail: jesper.bahlke@adelisequity.com
About netIP
netIP is a leading one-stop IT partner for small and medium-sized businesses in Denmark, offering IT outsourcing, infrastructure, cloud services, cybersecurity and IT consulting. Founded in 2000 and headquartered in Thisted, netIP today has more than 270 employees across eleven offices in Denmark and revenues of approximately DKK 500m. The company combines local presence and close customer relationships with the scale and expertise of a national platform. For more information, please visit www.netip.dk
About Adelis Equity Partners
Adelis is a growth partner for well-positioned companies in the Nordic and DACH regions. Adelis partners with management and owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic mid-market, making 51 platform investments and more than 350 add-on acquisitions. Adelis today manages approximately €4.5 billion in capital. For more information, please visit www.adelisequity.com