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. It has shown positive growth with CAGR of 16% in the last five years with a significantly high level of recurring revenue.

Intelligent, is an international hosting group offering hosting services for large enterprises and SMEs. The large enterprise branch provides products and services under the names Sentia and ReasonNet. The SMEs branch of the group includes brands such as Combell, Byte, and Flexmail. Intelligent is one of the market leaders in the Benelux for hosting services. In addition to cloud servers and complex tailored hosting and outsourcing, it also offers domain names, email services and traditional web hosting.

The company provides services for more than 100,000 customers spread around the globe, but concentrated mostly in the Benelux. Thanks to the acquisitions, Intelligent now has approximately 550 employees and the expected consolidated turnover for 2016 amounts to €95m.

The Clearwater International team was led by Partner Per Surland supported by Associate Casper Norre.

“We are delighted to become part of Intelligent Group whose reputation for developing and providing hosting services complements our own high standards. Together both companies can grow further, benefitting from wider service offering and adding new competencies to the organisation. The Clearwater team’s sector knowledge, experience and commitment throughout the whole process was invaluable in helping to achieve an excellent outcome.”

Christer Hasse Leth Nielsen, CEO, Solido Hosting

“The successful consolidation wave we have unleashed in the Benelux and now in Denmark, which started late 2015 together with Waterland, enables us to continue to carry out our vision for quality and strong products throughout Europe. The Danish market is similar to the one where we are already active and so for us it was the logical choice. We have already had a good start by welcoming DanDomain, Jaynet and Solido Hosting to the group.”

Jonas Dhaenens, CEO of Intelligent

“Intelligent Group is a great fit for Solido, both have a strong presence in the complex managed hosting market, where Solido complements the service portfolio of Intelligent very well, further adding niche knowledge about bespoke and complex hosting solutions. This transaction marks our 4th deal in the hosting and cloud service sector in the last 12 months. We expect to see continued M&A activity in the sector throughout 2017 in a market that is expected to grow significantly in the next couple of years.”

Per Surland, Partner, Clearwater International