Agilitas Private Equity LLP (“Agilitas”), the pan-European mid-market private equity firm, is pleased to announce that Danoffice IT has entered into an agreement to acquire Conecto A/S (“Conecto”), a leading Danish IT service firm.
Established in 1997 and headquartered in Søborg, Denmark, Conecto delivers critical IT solutions to large and small corporates as well as global public sector organisations and institutions. The firm is one of five platinum providers in Denmark for Citrix product sales and services.
Danoffice IT supplies critical IT products and services to a wide range of international clients such as the United Nations, IGOs and NGOs with critical operations in remote parts of the globe. Danoffice IT also provides value-added IT solutions to global corporate customers and to the public sector.
The deal will accelerate Danoffice IT’s growth strategy, seeing the company benefit from Conecto’s product portfolio, its customer relations, its highly complementary geographical footprint in Denmark, and its significant capability in cybersecurity. It will complement Danoffice IT’s current operations and strengthen its customer base.
Since Agilitas backed the buyout of Danoffice IT, the company has followed a focused growth strategy to strengthen and expand its Danish and international market positions. Danoffice IT has increased its product offering and geographical reach while also significantly enhancing the company’s corporate platform and sustainability credentials. Conecto will mark the fourth strategic acquisition made by Danoffice IT after Datacon, Npvision, and most recently Edgemo, a leading national provider of IT infrastructure products in Denmark.
Agilitas has a successful track record of creating value for businesses located in the Nordic region, using its deep transformational and sector expertise to back enterprises in the region such as Recover Nordic, Reconor, Cibicom (previously known as Teracom Denmark) and Aeven (previously known as NNIT Infrastructure Outsourcing).
Lars Baun Jensen, CEO of Danoffice IT, said “We see an excellent strategic fit combining Danoffice IT and Conecto. Conecto has a strong product and service offering and a group of highly valued and skilled employees, which we see as great additions to our current business. This acquisition will also grow our customer base within the corporate and public segment and be a significant contribution to our value proposition. This will ultimately benefit all our customers.”
Kevin Iermiin, Partner at Agilitas and member of the Danoffice IT board, commented: “The acquisition is part of the strategic transformation plan for Danoffice IT. We are delighted by the growth of the Danoffice IT business, and this new add-on will bring the company to the next level by strategically complementing its offerings and capabilities.”
Martin Calderbank, Managing Partner at Agilitas, said: “The add-on of Conecto is an important milestone in the company’s growth. The addition of Conecto’s geographies, services, and client segments will strengthen Danoffice IT’s ability to enhance its provision of sustainable IT solutions to an even broader market in Denmark and around the world.”
The terms of the deal will not be disclosed, and the transaction is subject to approval from the Danish Competition and Consumer Authority. The acquisition is expected to be completed once all the preconditions for the transaction are satisfied.
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