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A Pan European private equity firm IK Investment Partners has agreed to acquire EPiServer Group shares from Amadeus Capital, Martin Bjäringer, Monterro Holdings, Northzone Ventures, Michael Runhem and families as well as employees. EPiServer is a growing Sweden based CMS provider with revenues in 2009 around 192M SEK (20,6M EUR). According to Swedish authorities, the company made 24M SEK (2,6M EUR) profit in 2009.

The financials of the deal were not disclosed. EPiServer has enjoyed very good growth in the recent years. Their compound annual growth rate (CAGR) was 34% in the last five years alone. EPiServer is based in Sweden, but does business in a relatively broad market. It has representation in Norway, Denmark, Finland as well as the Netherlands, United Kingdom and United States. The company states it is currently pursuing more growth from the US markets on their website.

Helena Stjernholm, Partner at IK, also lays out their plans for the acquisition: “We are excited to announce the acquisition of EPiServer which has an established track record and a very experienced management team. Together, we believe that IK and the management team and its highly skilled employees can further drive the organic growth in Sweden as well as internationally, and position the Company to take an active part in the future market consolidation.”

What strikes me as interesting in this case is that if IK Investment Partners is positioning the company for future market consolidation, ie. more M&A activity – why did the company sell itself at this point? These are of course tough questions to answer and especially tough if you have a big sum of money on the table to take it now or wait for a possible future liquidity event.

Source: STT Info