Procuritas is pleased to announce that its portfolio company Frendy, the Finnish IT services platform, has made its first add-on acquisition, three months after the company’s creation through the acquisition of twelve businesses. The acquisition of Wisdomic brings Frendy’s combined turnover to around €50 million with 220 employees.
Wisdomic is a Finnish IT services company employing around 60 people with offices in Kaarina, Vantaa and Seinäjoki and a data centre in Vantaa. Its offering is focused on cyber security services, cloud and data centre solutions, equipment and user support services, as well as IT infrastructure maintenance and monitoring.
Mikko Peltonen, CEO of Frendy, commented: “We are delighted to be bringing the Wisdomic team on board at such an early stage in our growth journey. Their expertise complements the Frendy business and strengthens our presence in Western and Southern Finland, as we strive to become the market leader for SMEs in Finland.”
Jussi Holopainen, Director at Procuritas, commented: “Frendy’s successful acquisition of Wisdomic follows our growth strategy and increases our ability to further enhance our customer service offering across the country. The two companies share the same values and have a great fit together. We warmly welcome our new colleagues from Wisdomic as part of Frendy.”
Procuritas has a strong track record over many years of investing in companies that have the potential to undergo transformational growth, in this instance through a buy-and-build strategy to facilitate accelerated development and multi-regional expansion of the group.
Procuritas is a mid-market Nordic private equity investor, building up niche market-leading companies through transformative growth in service industry consolidations, digital consumer businesses, software and select industrial sectors. As the longest-established private equity firm in the Nordics with a 35-year track record, Procuritas has carefully invested in more than 45 companies, accelerating their growth and helping them to realize their true business potential. The long-serving team is characterised by its passion for business, hands-on experience, enthusiasm, commitment to ESG-linked value creation initiatives and strong belief that they are allies in the quest to build strong and sustainable businesses. Read more at www.procuritas.com.
Frendy is an IT service provider for SMEs in Finland. Headquartered in Helsinki, it delivers IT support, IT security, equipment, networks, data centre and cloud services as well as document handling solutions via its local offices across the country. Frendy was created in June 2021 through the acquisition of 12 companies which include Indatahouse Oy, Indata Oy, ItsPro Oy, Isoweli Oy, Tietokonemaailma Oy, Datanix Oy, Wintunix Oy, R-Office Oy, R-Office Uusimaa Oy, R-Office Itä-Suomi Oy, Soluto and Mikrovirta. Read more at www.frendy.fi.