Harris Williams & Co. Ltd Advises Zitcom HoldCo ApS on its Pending Sale to The Intelligent Group

June 14, 2017

Harris Williams & Co. Ltd, a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of Zitcom HoldCo ApS (Zitcom Group), a portfolio company of HgCapital, to The Intelligent Group, a portfolio company of Waterland Private Equity Investments B.V. (Waterland). Harris Williams & Co. is serving as the exclusive financial advisor to Zitcom Group, a leading Danish hosting and cloud solutions provider. The pending transaction is being led by Thierry Monjauze, Jonathan Organ and Sylvain Noblet of Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group and Krishna Patel of the firm’s London office.

“The team at Zitcom Group has built an impressive business which has delivered rapid growth, both organically and through a number of acquisitions. The company’s acknowledged SME market leadership in Denmark provides an excellent platform to consolidate the Nordics,” said Thierry Monjauze, a managing director in Harris Williams & Co.’s TMT Group. “We have thoroughly enjoyed working with both HgCapital and Zitcom Group management and we wish the team continued success as part of the combined group.”

“The combination of Zitcom Group and The Intelligent Group is a powerful one,” said Jonathan Organ, a director in Harris Williams & Co.’s TMT Group. “This market continues to consolidate and we are excited by the opportunity this presents to buyers and sellers alike.”

Zitcom Group has created, both organically and through acquisitions, a leading Danish SME focused hosting and cloud solutions provider with activities in both the mass and managed hosting space, including domains website hosting, email for smaller customers and managed servers and applications for larger customers. The Group has demonstrated over 10 years of consistent revenue growth and provides cloud services to over 100,000 business and private customers in Denmark, operating under the brands Zitcom, Wannafind, UnoEuro, Curanet, ScanNet and Cloud.dk.

HgCapital is a sector expert private equity investor, supporting management teams to grow industry champions. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established position within a niche and which have the potential to grow faster than their market, create employment and become the leader in their industry. HgCapital’s dedicated portfolio management team provides practical support to management teams to help them realise their growth ambitions. HgCapital invests in expanding segments of the TMT, services and industrials sectors across Western Europe. Based in London and Munich, HgCapital manages close to £9 billion for some of the world’s leading institutional and private investors.

The Intelligent Group is home to trusted SME hosting brands such as Combell in Belgium, Byte in the Netherlands and DanDomain in Denmark. In addition to domain names, traditional web hosting and email services it also offers cloud servers and bespoke hosting solutions. Following the Zitcom Group acquisition, the Group will have more than 300 hosting experts spread across Belgium, The Netherlands and Denmark. It is the market leader in the Benelux and Denmark for shared hosting services for SME customers. In addition to its strong track record of organic growth, the Group builds on a sophisticated acquisitive capability, with more than 10 transactions in the last two years as part of its buy-and-build strategy. The Intelligent Group is the third largest hosting provider to SME customers in Europe and has over 70% of all online SMEs in Belgium and Denmark in its customer portfolio.

Waterland is an independent private equity investment group that supports entrepreneurs in realising their growth ambitions. With substantial financial resources and committed industry expertise, Waterland enables its portfolio companies to achieve accelerated growth both organically and through acquisitions. Waterland acts as an active shareholder in its portfolio companies, playing a key role in their strategic and operational development, growth and performance. With its experienced, entrepreneurial investment team, Waterland aims to help ambitious entrepreneurs obtain a strong market position in today’s increasingly competitive international business environment. Waterland has invested in more than 400 companies. Waterland has offices in The Netherlands (Bussum), Belgium (Antwerp), Germany (Munich and Düsseldorf), Poland (Warsaw) and United Kingdom (Manchester) and currently manages €4 billion of investor commitments.

Harris Williams & Co. (www.harriswilliams.com), a subsidiary of the PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s TMT Group advises leading private and public companies, entrepreneurs, private equity firms and venture capital firms on mergers and acquisitions and capital-raising transactions worldwide. The TMT Group has deep domain expertise in the Software/SaaS, Internet & Digital Media and IT Services’ segments, with particular emphasis on specific verticals including education, energy technology, fintech, membership management, public sector and supply chain/logistics and has a dedicated healthcare technology (HCIT) practice.  Across verticals it also advises technology services and networking solutions businesses. For more information on the TMT Group and its recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is a private limited company incorporated under English law with its registered office at 5th Floor, 6 St. Andrew Street, London EC4A 3AE, UK, registered with the Registrar of Companies for England and Wales (registration number 7078852). Harris Williams & Co. Ltd is authorized and regulated by the Financial Conduct Authority. Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.