Ferd sells TeleComputing to IK Investment Partners
“Ferd acquired TeleComputing over six years ago when the company was listed on Oslo Børs. The company has not been stock exchange listed over recent years, and Ferd’s stake in the company has been in excess of 90%. TeleComputing has grown significantly during this period and has more than doubled its earnings. Ferd will realise a gain of well over NOK 1 billion as a result of the sale, with a particularly high annual rate of return (IRR)”, comments Peter Sunde, Investment Director at Ferd and Chairman of TeleComputing’s Board of Directors.
“TeleComputing has been a very good investment for Ferd, and our active ownership, in combination with the TeleComputing's highly competent work force, has strongly contributed to the company’s significant growth and increased profitability. We believe that TeleComputing is well-placed for continuing growth, but also think that the company is now ready for a new owner with new initiatives. It is therefore right for Ferd to realise the significant value that has been created during our ownership period”, comments John Giverholt, CEO of Ferd.
“We are very pleased to be able to hand the baton over to IK. They have significant experience in IT internationally, and we are sure that IK will be a good owner for TeleComputing going forwards”, continues John Giverholt.
The transaction is subject to approval by the competition authorities, and is expected to be completed during the first six months of 2016. Fondsfinans AS and Advokatfirmaet CLP DA have been Ferd’s advisors for the transaction.
The TeleComputing Group is a leading provider of complete IT services to the Nordic SMB market. The Group has approximately 850 employees and reported turnover of NOK 1.3 billion in 2014.
Ferd is a family-owned Norwegian investment company committed to value-creating ownership of businesses and investments in financial assets. In addition to the group’s purely commercial activities, Ferd has an extensive involvement in social entrepreneurship. Ferd is wholly owned by Johan H. Andresen and family.
About IK Investment Partners
IK Investment Partners is a European private equity company focused on investments in the Nordics, the DACH region, France and the Benelux. Since 1989, IK Funds have raised more than EUR 7 billion of capital and invested in over 90 companies. For more information, visit www.ikinvest.com