Our recent hosting transactions
Clearwater International Denmark advises Hg on investment in IT Relation
Clearwater International Denmark has provided buy-side support to HgCapital Trust plc (Hg) on its investment in private equity backed IT Relation, a leading supplier of managed IT services to small and medium sized enterprises (SMEs).
Founded in 2003, IT Relation provides services which allow SMEs to move their IT infrastructure and operations into the cloud, as well as providing end-user support and consulting as part of a full-service IT offering.
Clearwater International UK advises Converge TS on its investment from Tenzing Private Equity
Clearwater International UK has advised specialist provider of managed and hosted IT services to the UK legal sector Converge-IT.Net Ltd (Converge TS) on its significant investment from Tenzing Private Equity.
Founded in 2006 by MD Nigel Wright, Converge TS is a specialist provider of hosted and managed IT services through private cloud. It provides mission critical managed cloud services to the UK legal sector including Infrastructure as a Service, Hosting, Business Continuity as well as other managed IT and infrastructure services.
Clearwater International Denmark advises NORRIQ on the sale of its hosting and IT infrastructure business to Dustin
Clearwater International Denmark has advised NORRIQ, a supplier of modern business IT solutions, on the sale of its hosting and IT infrastructure business to hardware giant Dustin. Thus, Dustin has initiated its geographical expansion into the Danish hosting market. NORRIQ will be able to offer its digital solutions within ERP, CRM, BI and E-commerce to the Dustin customer base.
NORRIQ is one of the largest IT consultancies in Denmark offering full-service IT solutions to over 10,000 customers in over 40 countries with 350 employees. The hosting and IT infrastructure business generates an annual revenue of DKK 57m (€7.7m) with significant levels of recurring revenue.
Clearwater International advises on the management buy-out of Version 1, backed by Volpi Capital
Clearwater International has acted as exclusive financial advisor to Irish IT services firm Version 1 and Volpi Capital on the management buy-out of one of Western Europe’s fastest growing IT services companies. This transaction, Volpi Capital’s largest to date, sees the London-based private equity firm invest €90m of equity for a significant stake in Version 1.
Version 1 is an IT services business, founded in 1996 by Justin Keatinge and John Mullen, and is one of Ireland’s biggest technology success stories. The funding, which is Version 1’s second round of private equity investment, will drive phase two of the company’s ambitious international growth plan.
Clearwater International advises managed hosting and IT outsourcing company, Softcom Solutions on its sale to PE-backed IT Relation
Clearwater International has advised the owners of SoftCom Solutions (SoftCom) on its sale to Danish provider of managed hosting and IT outsourcing IT Relation, backed by Nordic private equity investment group, Adelis Equity. Adelis Equity thereby continues its consolidation of the Danish IT outsourcing market in the wake of its recent acquisition of IT Relation, Front-data and DSI-Next.
Founded in 1996 by Allan Thorvaldsen and Diego D’ambra, SoftCom initially started out as an IT consultancy firm. In 2006, Jakob Knutssøn became co-owner and CEO, and the company started offering subscription-based on premise services, followed by a roll-out of a combined hosting & service concept to both existing and new customers.
Clearwater International advises Solido Hosting on the sale to Intelligent Group
Clearwater International has advised Solido Hosting A/S (Solido) on its sale to the international provider of hosting and cloud services, Intelligent Group (Intelligent), backed by the Benelux-based private equity investment group, Waterland. Intelligent simultaneously acquired two other Danish hosting companies, Jaynet Group and DanDomain, and has thereby initiated a significant geographic expansion into Denmark.
Solido, established in 2000 by Christer Lasse Leth Nielsen, has a leading position in the Danish hosting market offering customised hosting and application solutions to businesses. The company specialises in highly automated/structured design and management of complex hosting solutions, based on the individual needs of the customer.
NASDAQ-Listed J2 Global, Inc. acquires Danish backup-as-a-service company, Frontsafe A/S
Clearwater International has advised Frontsafe A/S (Frontsafe) on its sale to global provider of internet services, NASDAQ-listed j2 Global, Inc. (j2 Global).
Frontsafe, founded in 2006, holds a strong position within cloud and hybrid backup services in Denmark. The company specialises in delivering backup-as-a-service, based on an IBM Spectrum Protect platform (formerly Tivoli Storage Manager).
The purchaser, j2 Global, established in 1995 with headquarter in California, US, has a €37.5 bn plus turnover, combining a revolutionary patented suite of services with a financially strong organisation. j2 Global provides internet services through two segments: business cloud services and digital media.
Clearwater International advises IT Relation on their sale to Adelis Equity Partners
Clearwater International has advised IT Relation on their sale to Swedish-based Adelis Equity Partners (Adelis).
Founded in 2003, IT Relation has become one of the leading suppliers of IT outsourcing services in Denmark, with over 115 employees and offices in Herning and outside Copenhagen.
Clearwater International advises leading hosting business in Denmark on acquisition by HgCapital
Clearwater International Denmark acted as financial advisor in the sale of Zitcom to UK-based HgCapital.
Zitcom was founded in 2000 and operates under the Wannafind, UnoEuro, Curanet and Zitcom brands. The business has demonstrated 15 years of consistent revenue growth to more than 50,000 business and private customers in Denmark.
HgCapital’s objective is to support the Zitcom management team in building a clear champion in the Danish market, based on Zitcom’s excellent reputation for service delivery, unique operating platform and attractive multi-brand strategy.
Via Venture Partners acquires controlling interest in Hostnordic
Hostnordic is an Aarhus-based hosting and IT outsourcing company. Christian Winther has many years of experience from top management in IT and Telecom companies in Denmark and abroad. He joins as Executive Chairman of the company with responsibility for daily operations.
The previous owners Christian Beer and Nicolai Pedersen remain shareholders in the company. Hostnordic has a strong position in the rapidly growing IT outsourcing market and is with its effective Microsoft-based infrastructure an obvious platform for participation in the consolidation that is underway in the hosting market at the moment. Via Venture Partners primarily invests up to EUR 20 mill per case in ICT growth companies ready to expand outside the Nordic region with a focus on companies with revenues from €5m to €75m.