On 29 June 2016, the Nordic private equity fund, Adelis Equity Partners published its acquisition of IT Relation A/S, Front-data Danmark A/S and DSI-Next A/S.

IT Relation A/S, Front-data Danmark A/S and DSI-Next are three separate suppliers of IT-outsourcing solutions to small and medium-sized enterprises having between 50 and 800 employees. The consolidating unit will no doubt be the largest player within this segment in Denmark.

The acquisition and merger of the three companies constitute an important step in the consolidation on the market which has so far been marked by a number of minor players, who, historically, have had difficulties in targeting large important customers. By the merger of the three companies, Adelis creates economies of scale, increased quality and far better service to customers.

Says Steffen Thomsen, Adelis:

We will supply the same services as they do in the big league, however, we are far more flexible because the big players have difficulties in offering similar services. Internally, we have huge growth ambitions, because we believe that we have a superior product, but we will also look for other takeover targets.

LETT advised Adelis in connection with the transactions concerning simultaneous signing and closing in respect of both leverage finance and the transactions.