Clearwater advises Flexfone on its sale to Dstny

Transaction

Flexfone sold to Dstny

Sell-side

Undisclosed

Role

Adviser to Flexfone on its sale to Dstny

Sector

Tech & Tech Services

Region

Denmark

Clearwater has advised Flexfone, a Danish supplier of cloud-based communication software, on its sale to Belgium-based UCaaS company Dstny, backed by Apax Partners.

Flexfone is a mobile-first cloud-based communication software company offering telephony services, primarily to small and mid-sized businesses in Denmark. With a staff of 45 dedicated professionals, the company was established in 2011 and is headquartered in Skanderborg. Its digital approach, user-friendly communication systems, and a broadly distributed network of more than 100 resellers, all make Flexfone highly competitive in the Danish market. Since its establishment, the company has faced significant growth, with a current turnover of over €13m (DKK 100m).

Dstny is a leading European provider of cloud business communications solutions (UCaaS), headquartered in Brussels. In 2019, Apax Partners acquired Dstny, with the aim of accelerating its ambitious growth strategy, expanding its portfolio through strategic acquisitions, and enhancing its technological platform.

This transaction enables Dstny to significantly strengthen both its presence and market position in Denmark and utilise Flexfone’s proven go-to-market model. With the backing of Dstny, Flexfone can offer added value to its clients through access to technologies and innovation.

I am really excited about the partnership that we, together with the Clearwater team, have found in Dstny – a partner that can accelerate Flexfone’s growth journey. It is the third time that I have cooperated with the same team at Clearwater in a sales process and that is far from random. After a short dialogue, we quickly decided to follow Clearwater’s recommendation of running a structured, competitive process. That has paid off and together we found the right buyer and negotiated the right conditions. Once more, I am impressed with the team’s ability to process our business and communicate it precisely – and with an energy and charisma that impresses me a lot as well.
Pelle Martin Smidt, Co-founder, Flexfone

At the moment, we see a high degree of consolidation in the unified communications market, which is more and more driven by software features and digitisation. Flexfone’s mobile-first approach is very interesting for Dstny, which now gains access to a quite unique platform. I am very impressed by Flexfone and the management team’s ability to adapt to the market and constantly be a step ahead. This has now led us to a very good result and a valuable partnership. Finally, I am obviously honoured that Flexfone’s Co-founder Pelle has chosen us as the adviser for the third time, on his entrepreneurial journey.
Per Surland, Partner TMT, Clearwater

Flexfone has a unique market position with a reseller-based go-to-market approach, that has created a high level of interest from several potential buyers. The well-documented business groundwork and well-prepared and competent management team at Flexfone have made it possible to run a competitive auction process, with a strong solution and an attractive price as a result. We are looking forward to following Flexfone’s growth journey going forward.
Casper Norre, Director, Clearwater