Hg has sold Zitcom Group, a leading Danish SME-focused hosting provider, to Intelligent, marking a successful exit with a 3.3x investment multiple and 145% gross IRR.

Target Information

Hg has successfully sold Zitcom Group, a prominent provider of hosting and cloud solutions specifically tailored for the Danish small and medium-sized enterprise (SME) market, to Intelligent, a Belgian hosting solutions company. Founded with a focus on delivering comprehensive hosting services, Zitcom Group operates under multiple brands, including Zitcom, Wannafind, UnoEuro, Curanet, ScanNet, and Cloud.dk. Over its decade-long trajectory, the company has established a strong presence, catering to over 100,000 business and private customers in Denmark.

Since Hg's partnership with Zitcom Group began in December 2015, the company has achieved significant milestones through both organic growth and strategic acquisitions. This sale marks Hg's second successful exit from the Mercury TMT fund, showcasing its ability to enhance the growth and profitability of Zitcom Group during its 18-month investment period.

Industry Overview in Denmark

The hosting and cloud solutions industry in Denmark has witnessed rapid growth, driven by increasing digitization across sectors and a burgeoning demand for online services. SMEs in particular are looking for reliable and scalable hosting solutions to support thei