Procuritas Capital Investors VI has launched Frendy, an IT services platform in Finland, created through the acquisition of twelve IT service companies, with plans for further consolidation in a fragmented market exceeding €1 billion annually.
Information on the Target
Procuritas Capital Investors VI has established Frendy, a new IT services platform headquartered in Helsinki, Finland. This new entity has been created through the acquisition of twelve individual IT service companies operating across Finland. With this strategic acquisition, Procuritas has become the majority shareholder, while the current entrepreneurial teams will maintain operational control of their local businesses, possessing a significant minority stake in Frendy.
Frendy aims to cater specifically to small and medium-sized enterprises (SMEs) in Finland, a sector that represents a target market exceeding €1 billion annually. At launch, the company employs 160 staff and has a presence in 16 locations throughout the country, generating revenues exceeding €33 million.
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Industry Overview in Finland
The IT services industry in Finland has witnessed considerable growth in recent years, driven by an increasing demand for digital transformation among SMEs. Businesses are inc
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Procuritas Capital Investors VI
invested in
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in 2021
in a Buy & Build / Roll-Up deal
Disclosed details
Revenue: $39M