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.
“Forte is a significant player in its market and complementary to DNA through its strength in the large enterprise segment” says Juho Aminoff at Verdane Capital Advisors. “Combining the offering of the two companies makes a very compelling case.”
Through the acquisition, DNA is looking to strengthen its position in the corporate services space and expand its offering, especially in the growing network-based managed services domain. The transaction also enables Forte, as part of DNA, to serve its customers with more comprehensive services. Additionally, DNA can offer Forte services to its large small-to-mid sized business customers.
About the Verdane ETF III secondary direct transaction
Verdane ETF III SPV was formed in March 2011 when Verdane Capital VII acquired the interests of certain LPs in Eqvitec Technology Fund III. Verdane Capital Advisors simultaneously replaced Eqvitec Partners as exclusive advisor to the fund and follow-on capital was set aside for compelling investment opportunities in the fund’s portfolio companies.
About Verdane
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
More info: www.verdane.com
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