Norvestor sells IT Gården to EQT-backed Iver

The vendor was invested in the business via Norvestor VII, which closed on its hard-cap of €510m in early 2016.

The transaction comes 14 months after EQT founded Iver via the merger of portfolio companies Candidator and DGC IT Services.

During Norvestor's holding period, IT Gården acquired Helsingborg-based IT outsourcing company Dimac Hosting and launched a new office in Malmö.

The transaction is expected to complete by the end of August 2019.

Previous funding
Norvestor acquired IT Gården in 2016, with the GP taking a majority stake of around 77%, and management and employees holding the remaining shares.

Company
Founded in 1999 and headquartered in Landskrona, IT Gården provides IT consulting services to small and medium-sized businesses in the Skåne region. The company generated a turnover of SEK 222m in 2018 and currently has a headcount of 100.

People
Norvestor Equity – Henning Vold (partner).
IT Gården – Åge Lönning (CEO).

Advisers
Vendor – StellaEOC (corporate finance); Cederquist (legal).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• Nordics
• Technology
• Sweden
• Norvestor
• EQT
• Trade sale
• Build-up