Via Venture Partners, a Nordic multi-stage private equity firm acquires 100% of the shares in Finnish Profit Software Oy. The majority of the shares are acquired from funds managed by CapMan. The press release issued by Via Venture Partners does not mention any injection of new capital in Profit Software Oy.

Profit Software is providing software and associated services to insurance service providers. The company was established in 1992 and is the industry leader in Finland and the Baltic states with over 50% market share. Offices are located in Espoo (headquarter), Pori and Tallinn. Profit Software has a staff of 90 people and made turnover of close to €10M in 2013.

Ilkka Starck, CEO, Profit Software

I’m very pleased that Via Venture Partners decided to invest in Profit Software. Our focus is very much on the Nordic market and a Danish private equity company investing in us is a perfect match with our strategy. The acquisition also enables us to maintain our position as an independent company, states Profit Software’s CEO Ilkka Starck.

Via Venture Partners is a Nordic private equity firm mainly focused on small – and midcap companies with DKK 2 billion in committed capital. 99.8% of the capital is provided by ATP, Denmark’s largest pension fund, and the remaining is provided by the employees of Via Venture Partners A/S. Via Venture Partners portfolio consists of 14 companies of which 9 are Danish and the remainder resides in other Nordic countries.

With the deal Via Venture Partners strengthens its portfolio within the IT sector.

Benjamin Kramarz, Via Venture Partners

Via Venture Partners have looked at the Nordic market for insurance software for several years and are very pleased that we will now be able to help Profit Software expand across the Nordic Region. Ilkka Starck and the rest of the management team have done a tremendous job over the past few years in positioning Profit Software as the leading software provider in the Life & Pension market in the Nordic Region, says Benjamin Kramarz, responsible investment officer from Via Venture Partners.

In 2014 Profit Software made its first major deal in Sweden when Swedish insurance company, Länsförsäkringar, chose Profit Software to modernize its pension payment system. The project is ongoing and the new system will be in production during 2015.

I believe that with Via Venture Partners we have good opportunities to continue our strong focus on customer satisfaction and simultaneously further enhance our presence in the Nordic countries. Our target is to grow the company and its business in the Nordics and create more success stories in the future, summarizes Starck.

Source: Via Venture Partners