Content+Cloud, a leading UK-based Microsoft cloud services and digital transformation provider, today announced its acquisition by Nordic IT services provider, Advania.
The acquisition sees Content+Cloud become the foundation of Advania’s UK presence — the group’s first expansion outside the Nordics into the UK, adding to its existing presences in Sweden, Iceland, Norway, Finland and Denmark.
Building a true leader in technology services and solutions in northern Europe, the combined group will have a turnover of more than £800 million (SEK 10 billion) and a workforce of approximately 3,500 employees.
As part of the combined group, Content+Cloud will continue operating as a leading Microsoft-focused cloud services and digital transformation partner in the UK. Together with the existing senior leadership team, CEO Peter Sweetbaum, will continue to lead Content+Cloud, while expanding Advania’s reach, and breadth of services, into the UK. Content+Cloud will also be able to introduce its services into the Nordics.
Mikael Noaksson, CEO of Advania, said: “Being able to join forces with Peter and his team is an exceptional opportunity for Advania to enhance our customer proposition and to scale our offering outside the Nordics. For Advania the acquisition of C+C is a major step towards becoming a leading northern European IT services provider with our decentralised model, customer intimacy focus and long-term relationships.”
Content+Cloud operates across all three Microsoft clouds, including Modern Workplace, Azure and Dynamics, and helps clients transform the way they do business, optimise the way their people work, and provides them with flexible and secure platforms on which to operate.
With 16 Microsoft Gold Certifications and six Advanced Specialisations, Content+Cloud is the most awarded partner in the UK, and the only UK partner to have Advanced Specialisations in Intelligent Cloud (Azure), Modern Workplace and Security, and Business Applications.
Peter Sweetbaum, CEO, Content+Cloud, said: “Over the last five years, Content+Cloud has brought together some of the most exciting businesses within the Microsoft technology ecosystem, making us a leading Microsoft cloud services and digital transformation partner in the UK. Becoming part of the Advania Group, with their well-earned reputation in the Nordics and our mutual focus on customer centricity, presents an incredibly exciting opportunity for the group to build a leading European technology and transformation provider to our clients.”
The deal represents a realisation for private equity firm ECI Partners following five years of investment. Goldman Sachs Asset Management will continue to be the majority shareholder of the Advania Group.
Goldman Sachs Bank Europe SE, Sweden Bankfilial and Stephens acted as co-financial advisors to Advania. Content+Cloud was advised by Arma Partners and Travers Smith LLP.
The closing of the transaction will be during December 2021.
Content+Cloud is a leading UK based Microsoft-focused cloud services, digital transformation and managed services provider, with a passion for helping ambitious organisations and their people to succeed. With a strong focus on Microsoft solutions, the business boasts 4 MVP (Most Valuable Professionals), 16 Microsoft Gold Certifications, and is the only UK partner to have Advanced Specialisations in Intelligent Cloud (Azure), Modern Workplace and Security, and Business Applications.
Content+Cloud’s offices are located in London, Manchester, Milton Keynes, Reading, Cardiff and Cape Town, South Africa, together with 21 long-established partners around the world, enabling Content+Cloud to deliver a truly global service.
About Advania AB
Advania is a Nordic IT corporation, operating in 27 locations in Sweden, Iceland, Norway, Finland and Denmark. The company focuses on helping customers to improve their performance with innovative use of best available IT platforms and services. Advania serves thousands of corporate customers, multinational enterprises, governments and public institutions, large, small and medium-sized companies in all aspects of society.
Advania traces its roots to 1939 when an Icelandic entrepreneur founded an office equipment repair workshop in Reykjavik. In 2012 they were combined into one and Advania was formed.
For further information, please visit www.advania.com
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time.
For further information, please visit www.goldmansachs.com
About ECI Partners
ECI is a leading private equity investor, investing in growing businesses valued up to £300m. It has 45 years of experience, collaborating with management teams to build successful global businesses. With an unrivalled track record of 266 investments, ECI invests as either a majority or a minority investor. ECI is currently investing its eleventh buyout fund and manages approximately £1.7 billion on behalf of our institutional investors.
For further information, please visit www.ecipartners.com