Clearwater International Denmark advises NORRIQ on the sale of its hosting and IT infrastructure business to Dustin

assessor de Clearwater

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.

Dustin is one of the leading IT resellers in the Nordic region, offering a broad range of hardware, software and associated services and solutions, operating in Sweden, Denmark, Norway and Finland. Today, the Dustin group has more than 900 employees and an annual revenue of approximately DKK 7bn (€1bn).

The Clearwater International team consisted of Partner Per Surland and Senior Associate Casper Norre.

“The Clearwater team had great knowledge of the industry, the mechanisms that drive growth and value in our sector, and key players in the market. Their experience from previous transactions in the hosting industry was invaluable and their assistance in securing a strategic partnership with Dustin helps us create a strong platform for future growth. The process was delivered clearly and concisely, despite the volume of formal processes associated with working with a listed business. This allowed me to focus my efforts on delivering quality service to our customers.”

Bo Martinsen, CEO, NORRIQ

“This transaction is a great example of two successful companies joining forces to better service their customers. NORRIQ’s hosting and IT infrastructure business will add new capabilities to the organisation and introduces Dustin as a new significant player in the hosting and IT infrastructure market in Denmark.

During the last two years, we have seen many transactions in this industry, of which we have had the pleasure of advising on five of them. With the majority of these involving different international buyers, we have knowledge of and access to the global buyer population and understand the characteristics of the opportunities they are interested in. We expect to see continued M&A activity in the sector in a market that is expected to grow significantly in the next couple of years.”

Per Surland, Partner, Clearwater International