EQT, ATP PEP und Via Venture Partners verkaufen KMD an Advent International
EQT, ATP PEP and Via Venture Partners has sold KMD to Advent International after a successful 3½ year ownership period in which KMD has gone through a very positive development with increased revenue, earnings and employee headcount.
Since being acquired in early 2009, KMD has successfully completed an extensive transition from public to private sector ownership. The Company has implemented a wide range of improvements and efficiency enhancements of its internal systems and processes, while also developing a number of new software solutions. KMD is today a professionally run and competitive business with exciting growth potential. In 2011, the Company reported revenue of DKK 4,266 million and EBITDA of DKK 577 million.
KMD is Denmark’s largest provider of software and it-services. KMD generates the majority of its revenue from Danish municipal authorities, which among other includes software solutions to handle social and pension benefits. In addition, the Company is a provider of it-solutions to the central government as well as the private sector. In recent years, KMD has also built a platform for further growth in the Swedish market.
During the past 3½ years, KMD has invested more than DKK 2 billion in developing new software solutions for the Danish public sector, which – together with selective acquisitions – has emphasized its position as the leading provider of it-solutions to the Danish public sector.
Despite budgetary pressure and the general economic downturn, KMD has managed to generate steady growth during a challenging macroeconomic period. Digitalization – and KMD’s software solutions in particular – is an essential part of enhancing efficiency in Denmark’s public sector. KMD’s latest products within education and healthcare represent substantial investments in areas that will constitute major parts of the future public sector budgets.
“Denmark is without doubt ahead of virtually all other countries in terms of digitizing its public sector. KMD has a leading market position and unique domain knowledge and competences. We see great opportunities to develop and grow the business even further in Denmark, but also internationally,” says KMD’s CEO Lars Monrad-Gylling, and continues: “We have been very pleased with our partnership with the current owners, and we are now looking forward to continuing the journey with Advent International.”
The transaction is subject to customary closing conditions.