Segulah becomes majority owner in IT-Total
Segulah Fund V has acquired a majority shareholding in IT-Total Sweden AB to support the Company in its next growth phase and strategic development. Segulah will partner with the existing founders and minority shareholders who will retain a 45% shareholding in the Company.
IT-Total, founded in 2011 by Fredrik Franzén, Christer Alm, Peter Wallin, Stefan Borg and Lennart Pedersen, is a B2B-provider of secure and sustainable IT infrastructure services. The Company's offering includes managed IT, data center and workplace hardware, software licenses and related IT consultancy services. IT-Total is headquartered in Solna with ca. 90% of the clients based in the greater Stockholm area, serving both private and public customers. The Company has around 85 employees and has grown significantly during recent years, generating ca. MSEK 260 of revenues in the fiscal year ending April 2019.
Ulf Engerby will be appointed Chairman of the board and has relevant experience from the IT infrastructure market as the former CEO and co-founder of Qbranch. Fredrik Franzén, CEO and co-founder of IT-Total, will remain in his current position and spearhead the next strategic growth phase of the Company.
"I look forward to working together with Segulah and Ulf Engerby as Chairman to grow IT-Total and develop the business for our customers, creating a platform from where they can meet the secure and sustainable IT infrastructure needs of tomorrow", says Fredrik Franzén, CEO and co-founder of IT-Total.
"IT-Total has shown strong growth since inception on the back of a successful business model with an attractive value proposition. We look forward to growing the business further with the IT-Total team and to create value for customers in a rapidly changing IT environment", says Percy Calissendorff, Partner at Segulah Advisor AB.
The transaction was completed on June 26, 2019. The acquisition is the ninth investment for Segulah Fund V.
Stockholm, June 28, 2019
Fredrik Franzén, CEO, IT-Total Sweden AB, +46 73 522 23 82
Percy Calissendorff, Partner, Segulah Advisor AB, +46 73 347 62 81
Johan Möllerström, Director, Segulah Advisor AB, +46 72 543 79 11
EY acted as financial advisor to Segulah.
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