Riyadh – Decypha: Investcorp Technology Partners, part of the Investcorp Group, announced in a press statement its acquisition of a majority stake in Ageras, a fast growing European online marketplace matching Small and Medium-sized Enterprises (SMEs) with professional support services providers.
Ageras, headquartered Copenhagen, is currently operates in five markets, Sweden, Denmark, Norway, Holland, and Germany. Without any external investment to date, the company fostered its revenues by approximately 60% over the last financial year alone, managing to connect in 2016 around 16,600 customers. Additionally, Ageras, has ensured consistent growth by reinvesting cash generated back into the business.
The investment by Investcorp is expected to help drive continued growth in the Scandinavian market, as well as other international market expansions, leveraging Ageras’ strong brand.
Gilbert Kamieniecky and Julian Bennet will join the board of Ageras as non-executive directors.
Founded in 1982, Investcorp has made over 170 corporate investments in the U.S., Europe and the Middle East and North Africa region, including Turkey. The company has positioned itself as a leading global provider and manager of alternative investments, offering such investments to its high-net-worth private and institutional clients on a global basis. As at December 31, 2016, the Investcorp Group had $10.4 billion in total AUM.
By Decypha News Editorial Team
