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 advised IT Relation, led by partner Per Surland and supported by associate Casper Norre.
Henrik Kastbjerg, CEO, IT Relation said: “We’re pleased and proud to be able to work with Adelis, given their significant experience building strong businesses through consolidation. Furthermore, they can contribute with their insights from previous technology investments, including hosting. We’re looking forward to working together.”
Joel Russ, Investment professional, Adelis added: “This acquisition creates a strong platform for growth. We have experience with similar companies, where we have focused on finding the best platform in terms of a scalable business model combined with a strong company culture and a skilled management team.”
Per Surland, Partner, Clearwater International commented: “The investment from Adelis, as well as the interest from other international private equity groups, is a tribute to what the founders of IT Relation have achieved. From a small start-up business, IT Relation has become one of the leading Danish IT outsourcing companies. The Danish hosting- and IT outsourcing industry currently enjoys a lot of attention, especially from foreign private equity groups that see great opportunities to consolidate the Danish market.”