Marlborough Advises Advent International on KMD Acquisition

15 October 2012 – Advent International “Advent”, the global private equity firm, today announced that it has agreed to acquire KMD “the Company”, one of Denmark’s leading IT services and software companies, from EQT and ATP. Advent’s investment is subject to customary regulatory approval and is expected to complete by year-end

Founded in 1972, the Company has a long track record as a trusted partner to the Danish public sector. KMD is a market leader in innovative software, services, and business process solutions for the delivery of mission critical public sector services in Denmark. KMD’s technology and service platform administers and processes, amongst other things, welfare benefits, private and public sector salaries, and local government finances. Each year KMD’s systems process and disburse billions of kroner, equivalent to around 25% of Denmark’s GDP, and help make the Danish welfare state one of the most efficient in the world.

The Company has recently launched an innovative range of internet offerings focusing on digital education and e-healthcare. KMD’s operations extend across four locations – Copenhagen, Århus, Odense and Aalborg. In 2011 the Company reported revenue of DKK 4,266 million.

Commenting on the acquisition, Fred Wakeman, Managing Partner of Advent International, said:

“We are delighted to partner with the KMD team. KMD has a long history of growth and innovation and our investment will allow the Company to increase the pace and scale of its growth and ongoing operational excellence.”

John Woyton, Director of Advent International, commented:

“KMD is a market leader in Denmark, one of the most advanced governments in terms of IT adoption and eGovernment initiatives. We believe that KMD has world-class solutions and that the Company has strong potential to grow internationally. We are committed to supporting this unique and critical business and look forward to working in partnership with the management team to grow an even more successful business.”

Lars Monrad-Gylling, CEO of KMD, said:

“We are extremely excited that Advent International sees such potential in KMD. KMD has a solid market position, and a unique insight into and competence in delivering software solutions to the public sector. The new ownership is a great opportunity for us to strengthen our position. When KMD grows and develops, it has a positive impact on all our customers.”

Having invested in over 50 technology companies over the past 25 years, Advent is one of the leading investors in the global technology sector. In addition, with a dedicated Nordic team and a 20 year history of investment in the Nordics, Advent is a proven investor in the region.

Advent was advised on the transaction by Credit Suisse, Deloitte, Marlborough Partners, McKinsey & Company, and Weil, Gotshal & Manges.


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