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. Today, more than 3,500 users are connected to SoftCom’s service desk that operates as a single point of contact for its customers. SoftCom has shown impressive revenue growth at a CAGR of 24% with a significantly high level of recurring income.
IT Relation is a leading provider of IT services including hosting, support, development and strategy in Denmark, with a yearly revenue of more than €40m. In 2016, Clearwater International advised IT Relation on its sale to Adelis Equity, after which the business merged with the IT outsourcing company, Front-data and the IT development and application company DSI-Next, with the ambition of creating an even stronger platform for future growth under the two business units – Managed Services and Solutions.
With the addition of SoftCom, IT Relation hopes to further benefit from economies of scale and create even more value for money for its customers.