Clearwater advises leading hosting business in Denmark on acquisition by HgCapital

Transaction

Zitcom sold to HgCapital

Sell-side

Undisclosed

Role

Adviser to Zitcom on its sale to HgCapital

Sector

Tech & Tech Services

Region

Denmark

Clearwater Denmark acted as financial adviser in the sale of Zitcom to UK-based HgCapital.

Zitcom was founded in 2000 and operates under the Wannafind, UnoEuro, Curanet and Zitcom brands. The business has demonstrated 15 years of consistent revenue growth to more than 50,000 business and private customers in Denmark.

HgCapital’s objective is to support the Zitcom management team in building a clear champion in the Danish market, based on Zitcom’s excellent reputation for service delivery, unique operating platform and attractive multi-brand strategy.

“Stefan and his team have built a highly differentiated hosting business in Denmark, addressing attractive growth segments of the cloud solutions market. We are delighted to be supporting them to accelerate the development of the business. HgCapital has a long track record of investing in SME-focused technology business in Denmark and the wider Nordic region and we are pleased to be adding Zitcom to this portfolio.
Nick Jordan, Director, HgCapital Mercury team

With the investment from HgCapital, Zitcom have found the perfect partner to accelerate and continue our mission of delivering scalable and solid IT products from our state-of-the-art platform. The investment will help my team and I to strengthen and grow our position in the Danish market and we couldn’t be more excited about the endeavor ahead of us.”
Stefan Rosenlund, CEO, Zitcom

he Danish hosting industry currently enjoys a lot of attention, especially from foreign private equity groups that see great opportunities to consolidate the Danish market. Therefore, I anticipate that we will see several transactions in the Danish hosting industry in 2016.
Per Surland, Partner, Clearwater