Forte, a company that delivers data communications and security services was founded in 2000 and has grown profitably since day one. It is expected to deliver €8m of in sales in FY 2011. The company’s services are available in 60 countries on six continents.
“We are thrilled to close this deal for Forte so shortly after Verdane Capital VII’s investment. This is a great way to conclude the work that Eqvitec Partners initiated in 2008” says Henrik Aspén, Partner at Verdane Capital Advisors and responsible for the firm’s activities in Finland. “With the sale, a meaningful portion of the transaction price is returned to investors.”
Verdane ETF III, formerly Eqvitec Technology Fund III (ETF III), was formed in March in a secondary direct transaction with Verdane Capital VII. Since the transaction, both funds are advised by Verdane Capital Advisors.Verdane is currently Forte’s largest investor, alongside key personnel. Since ETF III’s investment in 2008, a number of initiatives have strengthened Forte’s position, including entry into the Russian market, improved customer service, more focused sales activities around major accounts and a strengthened product portfolio through new product launches.