Founded in 2000 and based in Skanderborg, Denmark, Zitcom is a leading Danish hosting and cloud solutions provider with activities in the mass hosting space, focused on the SME market.
The Group had already demonstrated over ten years of consistent revenue growth before Hg partnered with them in 2015. Just over a year later, at the time of Hg’s exit, Zitcom provided cloud services to over 100,000 business and private customers in Denmark, operating under the brands Zitcom, Wannafind, UnoEuro, Curanet, ScanNet and Cloud.dk.
We see value in businesses serving a SME customer base, particularly those with high recurring revenue, strong revenue retention levels and a ‘Cloud Solutions’ product or service. We approached the Founder and CEO at Zitcom, Stefan Rosenlund, backing him and his management team.
Over the course of the investment, Hg supported Zitcom in bolstering their team with functional experts and backing their vision of consolidating the Danish SME Hosting segment through M&A. The expanded Zitcom Group became a leading player in the Danish marketplace, almost doubling its customers whilst more than doubling its revenue and profit.
In June 2017 we sold the business to Intelligent Group who we believe are great partners for Zitcom and the management team to achieve the next stage of the company’s development. This delivered an attractive exit for Hg and its investors.