Polaris sells AddPro, the IT security and infrastructure business, to Perusa
Polaris Private Equity has entered into an agreement to divest the IT security and infrastructure business AddPro AB to European private equity firm Perusa.
In 2005, Polaris acquired a majority shareholding in Swedish AddPro, and the company has experienced significant progress through organic growth and an acquisition of the Danish IT company SNEX in 2012. Today, AddPro is a leading company in the areas of IT security and efficiency in both Sweden and Denmark, and for two consecutive years, client surveys have ranked AddPro as Swedens best IT provider.
We founded AddPro in 2000 with a geographic focus on Southern Sweden, and the company grew rapidly and successfully to Gothenburg and Stockholm. In 2012, we established the company in Denmark, and our business model has proven its value across geographic markets. Polaris has been an instrumental factor in the development of AddPro to become a leading IT company in Sweden and Denmark, said Nicklas Persson, CEO and co-founder of AddPro.
Under Perusas ownership, AddPro is to be developed further with a view to creating a pan-European company in the areas of IT security and efficiency.
We have worked closely with AddPros management, tripled revenue and earnings and succeeded in creating a company with unique competencies, a strong market position and a solid foundation for European expansion and growth. We are confident that Perusa will be able to contribute to the continued progress of
AddPro, said Allan Bach Pedersen, Partner at Polaris.
The parties have agreed not to disclose the purchase price