Borenius advised Vaaka Partners on a GP-led secondary transaction

We advised Finnish private equity firm Vaaka Partners on the transfer of Tietokeskus Group to a newly formed continuation vehicle. The continuation vehicle was capitalised by Vaaka Partners Buyout Fund IV and a fund advised by eQ Asset Management. As a part of the transaction, existing limited partners of Vaaka Partners Buyout Fund II had the option to cash out or to reinvest their proceeds in the continuation vehicle.

The transaction will enable Vaaka, the original founders, management, and other employees to continue their support of Tietokeskus. The continuation vehicle, with additional committed capital that can be utilised for further strategic acquisitions, will be managed by Vaaka.

We advised Vaaka Partners on all Finnish aspects of the transaction, including the structuring and formation of the continuation vehicle, the limited partner election process, and the sale and purchase transaction as well as the financing and recapitalisation of Tietokeskus Group.

Tietokeskus is a leading independent ICT infrastructure service provider for SMEs and public sector organisations in Finland. The key services of the company are IT infrastructure outsourcing and support services, desktop deliveries and life-cycle management services, and IT infrastructure consulting, solution design and delivery. Tietokeskus was originally acquired by Vaaka II in late 2016, and seven add-on acquisitions were made during its ownership with the latest closed in June 2023. Tietokeskus’ pro-forma revenue was EUR 132 million in 2023.