AddPro and Svensk IT Funktion together create a new IT player in Sweden!
AddPro and Svensk IT Funktion (ITF) both have a long and successful history in the Swedish IT market. The businesses have so far been active in different geographic markets in Sweden, but now they are joining forces to create one of Sweden's leading cloud and application integrators, with strong representation in Stockholm, Gothenburg and Malmö/South. In total, the business is expected to turn over approx: 900 MSEK in 2018 with good profitability and employing over 300 people!
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Both AddPro and ITF are in a very expansive phase and with a combined offering, larger geographic market and large customer base, it is assessed that AddPro/ITF together can develop even stronger to the benefit of both customers and staff.
"AddPro is growing organically by around 25% and during about eight months of intensive analysis work we have evaluated different options and possibilities to continue the business' successful journey by adding new markets and concepts", says Nicklas Persson, CEO and one of the founders of AddPro. "ITF has throughout this process stood out as a very agile player with good knowledge and understanding of the market and its customers, enriching the new constellation with both greater geographic coverage and new services and feature deliveries. These are things that we, our employees and customers value highly and it will be really exciting to continue developing the business together with ITF in the Swedish market! Together we form a real dream team", continues Nicklas Persson.
"We are impressed by ITF's strong development and the leading position it has managed to create in certain focused areas of expertise which, together with AddPro's service offering, will be unique in the Swedish market. We see a 'perfect match' between AddPro and ITF both from the perspective of the staff, the customers and the market. ITF has a skilled management and very competent employees just like AddPro, so this will be dynamite in the market and what we can offer our joint customers going forward", says Nicklas Persson.
"AddPro has a very strong and elaborate service concept and offering that we now want to accelerate and offer to more customers in the market as we know that this type of concept strengthens our customers' competitiveness and ability to realize their respective strategies to achieve their goals", says Nicklas Henriksson, CEO and co-founder of ITF. "Together with AddPro, we will be able to significantly increase the speed and offer our customers a larger portfolio of services to support their businesses and development", continues Nicklas Henriksson.
Adelis Equity Partners has been the majority shareholder in AddPro since 30 June 2017 with just over half of the shares and will retain its majority position in the new group after the merger. The founders and management of both AddPro and ITF will continue to own a large part of the company. Together they have now set an aggressive growth plan for the Swedish market.
AddPro AB ( www.addpro.se )
The AddPro Group operates in the IT field, Secure & Efficient IT, and was established in 2000. The business is developing very positively, is expanding strongly and is currently represented in Malmö (HK), Gothenburg, Helsingborg, Kristianstad.
AddPro is one of the leading application and cloud integrators in Sweden. With a combination of top-rated consultants, strategic suppliers, selected cloud services, own data centers and 24×7 manned service desk, the business is able to provide the market with the best solutions in AddPro's focus area.
In 2018, the business is expected to approach a turnover of approximately SEK 400 million with good profitability and employing over 200 specialists, of which approximately 85% are technical specialists working in one of the company's areas of expertise.
Svensk IT Funktion AB ( www.ITF.se )
ITF operates in the IT field with a focus on infrastructure and IT as a function, ITF - Svensk IT Funktion was established in 1999. The business has developed considerably in recent years, and will continue to grow and develop in the future. Today the business is represented in Stockholm and Gothenburg.
ITF-Svensk IT Funktion is one of the foremost in Sweden in the field of IT as a function. The combination of high competence within the organization, strategic and tactical suppliers in the areas of Workplace, Documents and IT production has created success. The business delivers to IT departments according to specific technical requirements, but also to customers' business needs, then in the form of IT as a function. 2018 the company is expected to approach a turnover of about 500 MSEK with good profitability, and employs about: 100 employees, of which 65% are technical specialists working in one of the company's three areas of expertise.
Adelis Equity Partners(www.adelisequity.com)
Adelis is an active partner for value creation in medium-sized Nordic companies. Adelis was founded in 2012 with the aim of becoming the leading private equity firm focused on investing in mid-sized unlisted companies in the Nordic region. Since 2013, when the company's first fund was raised, Adelis has been one of the most active private equity firms in its segment with 14 investments and more than 30 follow-on acquisitions. Adelis currently manages around SEK 10 billion.
For further information please contact:
Nicklas Persson, AddPro AB, +46 73 625 75 50, nicklas.persson@addpro.se
Nicklas Henriksson, Svensk IT Funktion AB, +46 73 633 09 35, nicklas.henriksson@ITF.se
Joel Russ, Adelis Equity, 073-543 30 68, joel.russ@adelisequity.com
