Vaaka Partners extends ownership in Tietokeskus through a continuation vehicle
Vaaka Partners (“Vaaka”) is pleased to announce that Vaaka Partners Buyout Fund II Ky (“Vaaka II”) has successfully closed its divestment of Tietokeskus (“the Company”), to a newly formed Continuation Vehicle (“CV”). The CV will be managed by Vaaka, through a majority investment by Vaaka Partners Buyout Fund IV Ky (“Vaaka IV”). Following a competitive auction process, eQ, a leading Finnish asset manager investing in private equity, joined the CV as a new co-investor alongside Vaaka IV.
The transaction will allow Vaaka, together with the original founders, management team and other employees, to continue supporting Tietokeskus going forward, including the ongoing integration of the recently acquired MPY Yrityspalvelut add-on, while also committing follow-on capital which can be utilized for further strategic acquisitions.
Tietokeskus is the leading independent ICT infrastructure service provider for small- and medium-sized enterprises and public sector organizations in Finland. The Company’s key services are IT infrastructure outsourcing and support services, desktop deliveries and life-cycle management services as well as IT infrastructure consulting, solution design and delivery. The Company was originally acquired by Vaaka II in late 2016, with seven add-on acquisitions made during Vaaka II’s ownership. The latest acquisition, MPY Yrityspalvelut, was closed in June 2023. Tietokeskus’ pro-forma revenue in 2023 was EUR 132 million.
Janne Lipiäinen, CEO of Tietokeskus, comments: ”Our journey together with Vaaka has been successful, and we greatly appreciate their ongoing support in achieving our strategic objectives. We have solidified our position as the largest domestic IT service provider for SMEs. We are also committed to further developing the IT environments of SMEs and public sector organizations, and we will continue to serve our customers with the help of over 450 skilled professionals across Finland.”
Panu Vuorela, Partner at Vaaka Partners, comments: “We are very happy to be able to continue our co-operation with Tietokeskus’ management team, while bolstering our capabilities to drive the Company’s growth strategy through this investment. During Fund II’s ownership the Company has been developed into a nationwide service provider, with excellent customer and employee satisfaction. These factors will serve as a strong base for our next growth phase together.”
Fairview Capital Group acted as financial advisor, while Stephenson Harwood and Borenius provided legal advice.
For further questions, please contact:
Vaaka Partners
Panu Vuorela
Phone: +358 (0) 40 510 0952
panu.vuorela@vaakapartners.fi
