Key transaction highlights
- Advania, a portfolio company of Goldman Sachs Asset Management, has reached a definitive agreement to acquire Valtti, from Adelis Equity Partners Fund II AB (Adelis), management and other shareholders.
- The closing of the transaction is expected during the first half of 2022, subject to regulatory approvals.
- Advania, with a heritage dating back to its inception in Iceland in 1939, is a leading IT service provider in Northern Europe with operations in Sweden, Iceland, Norway, UK, Denmark and Finland.
- Valtti is a full IT-services provider, focused on the mid-market in Finland providing cloud services, modern workplace, end-user services and cyber security capabilities.
- The transaction allows Advania to grow its presence in Finland and will enable the parties to provide a wider and deeper service offering within the IT-services space in Finland
The combined group (the “Company”) aims to become the preferred IT services provider in Northern Europe. This combination in Finland allows Advania to offer more specialised and broader services and products to its existing customer base. Furthermore, Advania and Valtti will create a first-rate workplace for employees, allowing the exceptional talent from both companies to thrive in an entrepreneurial environment and with a decentralised model close to customers in the Finnish market.
- It’s a great pleasure to join forces with Atte and the team in Finland. Our future vision is aligned, both on culture and business, that allows us to build a strong mid-market player in Finland where our number one focus is our customers. We see significant opportunities in the Finnish market and with this combination we can deliver a broader and deeper offering to our current and new customers, says Mikael Noaksson, Group CEO of Advania.
- At Valtti we aim to be a place for growth, professionally for our employees and through business-supporting services for our customers. Becoming a part of Advania Group strengthens our position as one of the leading IT service providers in Finland. This will expand our depth and skillset to meet the demands of larger customers and provide an exceptional work environment for highly skilled professionals, says Atte Kekkonen, CEO of Valtti.
- It is a pleasure to welcome Valtti into the fast-growing Advania Group and to support further scale in the Finnish market. The combination will enhance the value proposition to the existing client base and represents an important milestone for what Advania aims to achieve in Northern Europe, says Michael Bruun, Head of the EMEA Private Equity Business at Goldman Sachs Asset Management.
Goldman Sachs Asset Management will continue to be the majority shareholder of the Advania Group. The closing of the transaction is expected during the first half of 2022 and is subject to regulatory approvals.
For more information, please contact:
Valtti
Aino Von Bonin, Marketing and Communications Director Valtti
Email: aino.vonbonin@valtti.com
Phone: +358 400 753808
Advania AB
Mikael Noaksson, Group CEO Advania
E-mail: mikael.noaksson@advania.com
Phone: +46 76 140 00 80