Procuritas’s Frendy completes first add-on acquisition
Procuritas is pleased to announce that its portfolio company Frendy, the Finnish IT services platform, has made its first add-on acquisition, three months after the company’s creation through the acquisition of twelve businesses. The acquisition of Wisdomic brings Frendy’s combined turnover to around €50 million with 220 employees.
Wisdomic is a Finnish IT services company employing around 60 people with offices in Kaarina, Vantaa and Seinäjoki and a data centre in Vantaa. Its offering is focused on cyber security services, cloud and data centre solutions, equipment and user support services, as well as IT infrastructure maintenance and monitoring.
Mikko Peltonen, CEO of Frendy, commented: ”We are delighted to be bringing the Wisdomic team on board at such an early stage in our growth journey. Their expertise complements the Frendy business and strengthens our presence in Western and Southern Finland, as we strive to become the market leader for SMEs in Finland.”
Jussi Holopainen, Director at Procuritas, commented: “Frendy’s successful acquisition of Wisdomic follows our growth strategy and increases our ability to further enhance our customer service offering across the country. The two companies share the same values and have a great fit together. We warmly welcome our new colleagues from Wisdomic as part of Frendy.”
Procuritas has a strong track record over many years of investing in companies that have the potential to undergo transformational growth, in this instance through a buy-and-build strategy to facilitate accelerated development and multi-regional expansion of the group.