Investment in forward thinking IT consulting
Strategic Investments /19.01.2018
Kirk Kapital has acquired 34 pct. of the IT consultancy firm Globeteam. This is completed by Kirk Kapital buying DICO A/S’ investment company C13 as well as buying out board member and co-founder of Globeteam, Erik Arnbak.
Globeteam has grown significantly within recent years. Currently, the company has 75 consultants connected to Globeteam and provides IT consulting services to private companies and the public sector, including the Ministry of Foreign Affairs, the Danish Courts, the Danish Environmental Portal and several municipalities. Some of the private companies include Rockwool, Kromann Reumert and DSV.
Kim Gulstad, CEO of Kirk Kapital, is thrilled about the opportunity to invest in Globeteam.
“We are looking at a company with a significant potential for further growth. Globeteam provides consultancy services in the IT area, which greatly contribute to the development and support of the business in the companies, that Globeteam collaborates with. We have seen the whole sector of digitalisation growing for many years, and Globeteam is very well positions within this macro trend”, says Kim Gulstad.
He does not want to disclose exactly how much Kirk Kapital has paid for the 34-pct. stake, but Kim Gulstad notifies that it is a significant two-digit million sum.
Globeteam’s revenue in 2017 is expected to be around 190 million DKK with a continuous growing surplus on the bottom line. Thus, Globeteam continues the two-digit growth rates that the company has performed in the recent years.
Globeteam’s other co-founder Claus Moldow retains his shares and continues as CEO of the company, where the management and many consultants are also co-owners. Claus Moldow also looks forward to working with Kirk Kapital.
“We have been in dialogue with Kirk Kapital over the past six months, and we are looking forward to having Kirk Kapital with us in the expansion that we are working towards,” Claus Moldow says.
Although the consultant firm is currently already running at full throttle, it is according to Claus Moldow, crucial for the continued growth that they now get new forces to join the journey.
“We are proud that many public and private companies have chosen to hold a close cooperation with Globeteam and we are pleased to work with the customers we have in the portfolio. However, we would like to expand our current business. We believe that the best way to bring Globeteam to the next level is with a new partner,” Claus Moldow says.
Chairman of the board in Globeteam, Mogens Elsberg, is looking forward to Kirk Kapital being represented in the company’s board of directors.
“With Kirk Kapital as a partner and represented in the Board we add additional resources and competencies to the Board. We get an investor who want to be a long-term co-owner and who like the development Globeteam has been through, and supports Globeteam’s future plans”, says Mogens Elsberg.
Claus Moldow, CEO in Globeteam, +45 26311 0001
Morten Huse Eikrem-Jeppesen, PressConnect for Kirk Kapital, +45 5385 0770