Sparebanken Hedmark Advise on Procuritas Capital Investors Investment in Daldata

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Procuritas Capital Investors V LP invests in Daldata AS, a leading Norwegian accounting software and cloud service provider.

Daldata AS is a Norwegian company, founded in 1982, that has established itself as a top accounting software and cloud service provider to the Norwegian accounting and agriculture sector as well as to other Norwegian SMEs. Based on accounting and end-customer knowledge, the company has created a leading product within its core focus segments and been able to respond to the changes in customer needs and technology. The company serves approximately 5,000 customers yearly and operates from six offices across Norway (headquartered in Tynset). Its cloud services are provided from its own state of the art data centre.

Daldata AS has grown 9% annually from 2006-2015B, and the estimated turnover in 2015 (financial year ending in December 2015) is 163 MNOK (~18.1 MEUR) with 47.7 MNOK EBITDA (~5.3 MEUR) and 40.2 MNOK EBIT (~4.5 MEUR).

“We are very happy for the opportunity to partner up with the management of Daldata. Over the past eight years, under the leadership of Bjørnar Håkensmoen the company has outgrown the market and developed an attractive product and services offering, in particular for the accounting industry. The company has both organic and add-on acquisition growth opportunities that we look forward to realizing with Bjørnar and his team said Erik Fougner, Partner at Procuritas Partners GmbH, advisor to PCI V.

Bjørnar Håkensmoen, CEO of Daldata AS, added “we are very pleased to get PCI V on-board as investor and receive their support in the continued development of the company. The market fundamentals in the accounting software market are attractive and Daldata is in a good position to capitalise on market opportunities”