Agilitas’ Acquisition of NNIT’s IT Infrastructure Outsourcing Business

Plesner acted as legal counsel for Agilitas in the transaction.

The leading pan-European private equity firm, Agilitas, has signed an agreement to acquire NNIT’s IT infrastructure outsourcing business including its Hybrid Cloud Solutions business and select parts of its Cloud & Digital Solutions business (“NNIT IO”). NNIT IO is a leading provider of IT infrastructure outsourcing services to some of the largest Danish private and public institutions.

The purchase price for the divested operations amounts to DKK 1,500 million (Enterprise Value on a debt free basis). The purchase price will be adjusted for net debt, working capital and potential EBITDA adjustments as of the closing of the transaction. Net proceeds will further be adjusted for the payment of carve-out and separation costs currently estimated to amount to around DKK 200 million to be booked as special items in 2022 as well as tax associated with the divestment. NNIT intends to reinvest the proceeds to accelerate growth in its continuing activities. In connection with the transaction, NNIT has undertaken to issue a vendor note of up to DKK 200 million to be repaid no later than six (6) years after closing of the transaction, and the rest of the purchase price will be paid in cash.

NNIT IO employs approximately 1,500 staff in Denmark, China, the Czech Republic and the Philippines and has a well-invested asset base, including two fully owned state of the art data centres strategically located in the Copenhagen area. 

NNIT IO has long-standing relationships with large Danish blue-chip customers within the life-science sector, financial institutions, and the private and public markets, all of whom have critical IT requirements due to operating in complex environments.

Agilitas has extensive experience of leading investments in Denmark, and a strong enthusiasm for the Danish IT market, having previously backed the buyouts of several Danish companies. 

The Plesner’s core team included Henrik Rossing Lønberg (Picture), Martin Anton Svarrer, Tina Kang, Michael Hur Berthelsen, Jacob Nygaard, Peter Stassen, Jacob Falsner, Lise Aaby Nielsen, Christian Cold, Kristian Vinter Bisgaard, Mia Cecilie Johansen and Regitze Bech Petersen.

Involved fees earner: Regitze Bech Petersen – Plesner; Michael Hur Bertelsen – Plesner; Kristian Vinter Bisgaard – Plesner; Christian Cold – Plesner; Jacob Falsner – Plesner; Mia Cecilie Johansson – Plesner; Tina Kang – Plesner; Lise Aaby Nielsen – Plesner; Jacob Nygaard – Plesner; Henrik Rossing Lønberg – Plesner; Peter Stassen – Plesner; Martin Anton Svarrer – Plesner;

Law Firms: Plesner;

Clients: Agilitas;

Federica Tiefenthaler

Author: Federica Tiefenthaler