Advania adds investment from Via Equity and PFA.
Advania, a Stockholm, Sweden-based systems integrator, announced getting into an agreement for selling 30% of the company to VIA Equity, a Northern European equity fund, and PFA, the largest commercial pension company in Denmark.
The financial details of the transaction remain undisclosed.
Advania, led by CEO Gestur G. Gestsson, was formed in 2012 when several branches of IT companies in 3 Nordic countries merged, some of which rooted back to 1939.
In 2014, Nordic Mezzanine, Swedish investors and part of the Nordic management, acquired a majority stake in Advania from previous owners and shifted focus towards both growth and increased profitability.
In 2017 Advania increased its revenues by 60%, to SEK 2.804m, and its EBITDA grew by 59%, to SEK 258m.