PowerTech Information Systems AS / Broadnet AS
The private shareholders of PowerTech Information Systems AS have sold the company to Broadnet AS. Financial details have not been disclosed.
PowerTech is one of Norway’s oldest internet service providers and specializes in broadband and data communication services for SMEs. The company has a leading position in this market segment and has, in recent years, been ranked first in the ESPI survey measuring satisfaction among business customers. PowerTech will remain as a separate brand.
Broadnet is a leading provider of fiber-based data communications to businesses, carriers and the public sector. The company is owned by EQT, Northern Europe’s leading private equity firm. Broadnet’s network consists of 40,000 kilometers of fiber that connects over 90 Norwegian cities throughout the country.
Bridgehead AS, M&A International Inc.’s member firm in Norway, advised the seller in this transaction.
“We engaged with finnCap Cavendish over 18 months ago to help us prepare for sale. The team’s sector specialist advice and guidance, combined with astute management of every aspect of the transaction process, delivered an exceptional deal that has surpassed all expectation, our shareholders are delighted”.
“We’re excited to join Dialogue and to bring our digital well-being and market-leading health engagement together with their diagnosis and treatment capabilities.
I’d also like to thank to the finnCap Cavendish team for being an exceptional partner during this process. Mike and the team provided us with excellent advice and guidance throughout, working tirelessly to ensure the best outcome possible was delivered. As a founder, I couldn’t recommend them highly enough.”
“This is an important milestone for our business, allowing us to focus on developing our mobile payments solutions. We believe Boku Identity will be able to continue to develop under Twilio’s ownership and we wish the business and its staff well for the future. We were impressed with the resilience and creativity of the team at finnCap Cavendish and are grateful to them for advising on the deal.”
“This is transformational for Mail Manager. We are really excited to be joining the Ideagen family where we’re confident we’ll go from strength to strength. Good advisors are essential. Ours were great! Thank you to Anthony Platt and his team for their rock-solid guidance, support and advice.”
“Given the financial strength of iomart, lender appetite levels in participating in the debt facility were high. However, this was the first time that a bank club was established and our incumbent lender was potentially being replaced. Therefore, we needed support in ensuring we ran a diligent and professional process and this is exactly what the finnCap Debt Advisory team delivered. I was delighted with the outcome in terms of the new lenders and banking arrangements, which underpins our growth plans for the business.”
“We are delighted with the support received from the finnCap Cavendish team throughout this process. Mike and the team ensured that we prepared meticulously, identified the right pool of potential investors and worked closely with us, the management team and our legal advisers to deliver a great outcome for the Shareholders. We wish the Intelling team and RDCP all the best in their next phase of growth.”
“The finnCap Cavendish team were exceptional from start to finish on our deal, helping us to prepare meticulously for the process, identifying a group of highly strategic buyers and negotiating a fantastic deal for our Shareholders. We would thoroughly recommend them to any owners considering an exit.”
“Thank you to John and your fantastic team at FinnCap Cavendish for your unwavering support, dedication, work ethic and belief in Xexec’s mission. John, Mike and Sam were instrumental in bringing the deal to a successful completion and provided invaluable guidance throughout the process.
We look forward to our new partnership with the Castik and Abry teams who are the ideal partners as we continue to expand our business and pursue the next phase of our strategy.”
‘The finnCapCavendish team were great to work with, they took time to listen, properly understand our objectives and tailored the process to get a fantastic result for us. They really understood the value drivers in the ICT sector and had access to all the key buyers for our business, they were able to efficiently manage the sale process maintaining the great relationship we’d built we Adept as our preferred buyer.’
“Thank you to Jon, Steph and Chirag for their tireless efforts in recent months. Jon offered invaluable leadership and strategic advice, while Chirag and Steph provided diligent and supportive guidance throughout. They also behaved throughout as one would expect friends and confidants to act, which is very helpful in a confidential situation. We were delighted with the result and very, very pleased to have had the three of them as our team.”
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