Nordic Capital has sold Guide, a supplier of high end IT services to EDB, a leading IT group in the Nordic region. Financial details of the transaction were undisclosed.
Nordic Capital acquired Framfab’s two subsidiaries IT Consulting and Integration in February 2001 for an undisclosed sum. The merged entity was renamed Guide. Nordic Capital owned approximately 80% of the new company and management and employees of the new company owned the remaining 20%.
Since the acquisition in 2001, revenues have almost trebled through string organic growth and add-on acquisition. The company had revenues of SEK523m (€56m) in 2005 and 520 employees.
Fredrik Näslund, director, Nordic Capital, said: “During Nordic Capital’s five year ownership period, Guide has grown and strengthened its strategic position. Guide’s management team has been instrumental in developing the company’s market position and customer offering.”