Acquisition of Advania
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April 2015 – Acquisition of Advania
About the deal
In 2015 Bryan, Garnier & Co was exclusive advisor to AdvInvest on the total acquisition of Advania Group.
The transaction means that Iceland‘s largest IT company becomes fully owned by a group of Swedish investors led by Thomas Ivarson.
AdvInvest acquired a 58.5% share in Advania Group in June 2014. The current deal means that AdvInvest will become the sole owner of Advania with the Iceland Enterprise Investment Fund (IEIF) fully divesting it‘s 30% share in the company.
“The Bryan, Garnier & Co team that has advised and supported us on this transaction has again done an excellent job. I look forward to a continued mutually successful cooperation,” says Thomas Ivarson from Advinvest.
“We are very pleased and proud of our advisory team in regards of the complete acquisition of Advania, on behalf of AdvInvest. This both represents a great opportunity for our client to further strengthen Advania‘s operations, as well as fulfilling IEIF‘s task of revitalization of the Icelandic economy,” says Adalsteinn Johannsson, Partner of Bryan, Garnier & Co.
Deal team
Adalsteinn Johannsson | Partner | Reykjavik | Investment Banking | ajohannsson@bryangarnier.com
Dadi Janusson | Director | Reykjavik | Investment Banking | djanusson@bryangarnier.com
About Advania
Advania Hf is an Iceland-based company that provides software, consulting, hardware, information technology operations, hosting, and data center services for corporate clients in the Nordic region. Advania reported revenue of approximately SEK 1.5bn (EUR 159.49m) and has a workforce of more than 1,000 employees.
About AdvInvest
AdvInvest, which is the acquirer of Advania’s majority stake, is led by Thomas Ivarson and a group of Swedish investors with vast experience in the Nordic IT industry. The aim of the investment is to strengthen Advania’s core competence in Iceland and use the investors’ network to further increase its presence in the Nordic market. The transaction was financed by Nordic Mezzanine from Helsinki, Finland, which also participated with an equity stake along the buyer group.