Polaris Private Equity is to sell IT security and infrastructure business AddPro to European private equity firm Perusa.
In 2005, Polaris acquired a majority shareholding in Swedish AddPro, and the company has experienced significant progress through organic growth and an acquisition of the Danish IT company SNEX in 2012.
AddPro is a specialist in the areas of IT security and efficiency in both Sweden and Denmark.
”We founded AddPro in 2000 with a geographic focus on Southern Sweden, and the company grew rapidly and successfully to Gothenburg and Stockholm. In 2012, we established the company in Denmark, and our business model has proven its value across geographic markets. Polaris has been an instrumental factor in the development of AddPro to become a leading IT company in Sweden and Denmark,” says Nicklas Persson, CEO and co-founder of AddPro.
Under Perusa’s ownership, AddPro is to be developed further with a view to creating a pan-European company in the areas of IT security and efficiency.
”We have worked closely with AddPro’s management, tripled revenue and earnings and succeeded in creating a company with unique competencies, a strong market position and a solid foundation for European expansion and growth. We are confident that Perusa will be able to contribute to the continued progress of AddPro,” says Allan Bach Pedersen, partner at Polaris.
The parties have agreed not to disclose the purchase price.
