IT Lifecycle Management provider Xllnc is sold to Norvestor, supporting their next growth phase
Xllnc is a leading supplier of IT Lifecycle Management (LCM) solutions for large corporations in the Nordics.
The company’s core solution is its ‘device-as-a-service’ offering, helping organisations evaluate their IT needs, plans, procurement and finance in addition to configuring IT equipment. Additional services include monitoring and managing corporate IT assets such as PCs, tablets and mobile phones throughout their lifecycle, including support and logistics.
Built on the idea of simplifying everyday life by providing smart lifecycle management solutions for workplace-related ICT assets, Xllnc has quickly become the go-to player in the Nordic IT asset management market through organic growth and the acquisitions of Timetech and Supplies Team Sverige in 2018.
Xllnc, in wishing to accelerate its expansion by leveraging the financial support and expertise of an established institutional investor, has signed an agreement to be acquired by Norvestor in order to strengthen its existing offering both locally and internationally through further add-on acquisitions.
Norvestor’s proven track record in supporting growth companies with the potential to achieve a leading Nordic or international positions through acquisitions and expansion, as well as its expertise within the IT service space, makes it the ideal partner for Xllnc. Norvestor will become the majority shareholder in Xllnc with approximately 55% of the shares; the management and employees will hold the remaining shares.
Norvestor is a leading private equity company focusing on lower mid-market buyouts in the Nordic region. The team currently advises funds with a committed capital in excess of NOK 11bn.
“The team at Stella EOC was very professional, truly knowledgeable in our space and really nice to work with. Since 2010 we have built Xllnc from the ground up with the intent to ultimately bring in a financial investor that can dramatically accelerate our growth. As a major step in that journey, Stella EOC worked tirelessly alongside us for 18 months to maximize the value of Xllnc, helping us identify and acquire Timetech and Supplies Team, which were highly synergetic additions to our core operations. Ultimately, in an efficient and timely process, they found the perfect partner in Norvestor to help us take our company to the next level.”