IK Investment Partners (“IK”) is pleased to announce that the IK Small Cap I Fund has reached an agreement to acquire a majority stake in OS Group AB (“OpenSolution” or “the Company”), a leading Nordic payment solution provider, from the founder. Financial terms of the transaction are not disclosed.
Headquartered in Gothenburg, Sweden, OpenSolution offers a full service product and software portfolio to its client base, including restaurants, casinos, arenas and other customer verticals. With its in-house development capabilities and strong focus on innovation, the Company covers the entire value chain of payment solutions, making it a single point of contact for >8,000 customers throughout Scandinavia. In 2015, OpenSolution generated revenue of approximately SEK 80 million and employed approximately 30 people.
“OpenSolution holds a unique market position, with our full service offering for payment solutions. We have strong in-house development capabilities for point of sale (POS), mobile POS, payment terminals and adjacent services. This means that we can be at the forefront and challenge the industry. At the same time, we recognise the need for a strong partner to support us in further developing and growing our business on an international scale. I am delighted to be working with IK, who share my vision, and believe that together we can achieve significant growth for the business,” says Christian Johansson, CEO and founder of OpenSolution.
“Since its foundation in 2005, OpenSolution has achieved remarkable growth. We believe the Company is well-positioned through its strong offering, clear focus on innovation, and high customer satisfaction. Our intention is to strengthen OpenSolution’s continued development by providing financial support, industrial expertise as well as international experience,” says Kristian Carlsson Kemppinen, Partner at IK Investment Partners, and advisor to the IK Small Cap I Fund.
OpenSolution is the sixth investment by the IK Small Cap I Fund, which invests in pan-European small cap companies with strong underlying potential. The other investments are: svt Group, leading provider of solutions for preventative or passive fire protection and damage management in Germany; Auxiga Group, a French and Belgian leader of pledge inventory services; TCM Group, a leading Scandinavian producer of quality kitchens; Touristry, a leading provider of tourism related services in the Nordics; and Izium, a French leading player in the outsourcing of customer services management.
Completion of the transaction is subject to legal approvals.
For further questions:
Christian Johansson, CEO and founder
Phone: +46 703 188530
IK Investment Partners
Kristian Carlsson Kemppinen, Partner
Phone: +46 8 678 95 00
Mikaela Hedborg, Communications & ESG Manager
Phone: +44 77 87 573 566
OpenSolution is a leading Nordic payment solution provider. By controlling the development of unique and innovative payment software OpenSolution is a preferred full service partner to numerous leading actors within the Nordic markets. References include arenas, transportation companies, aviation groups, Guide Michelin restaurants, leading casinos and many more. For more information, visit www.opensolution.se
About IK Investment Partners
IK Investment Partners (“IK”) is a Pan-European private equity firm focused on investments in the Nordics, DACH region, France, and Benelux. Since 1989, IK funds have raised more than €7.5 billion of capital and invested in over 95 European companies. IK funds support companies with strong underlying potential, partnering with management teams and investors to create robust, well positioned businesses with excellent long-term prospects. For more information, visit www.ikinvest.com