Read about Globeteam’s history from its foundation in 2001 up until today
In 2001, Claus Moldow, Morten Strunge Nielsen and Erik Arnbak decided to establish an alternative consultancy firm based on their experience in the business.
Claus Moldow, in his role as sales director along with the management of ØK Data, had just spearheaded the sale of ØK Data to Aston, which gave rise to a new business.
It was during the dot.com bubble. It was difficult to earn money in the IT business, whilst at the same time, IT consultants were riding at the top of the wave with high demands for salaries, staff benefits, travel and everything in between.
A different model
That is what Claus, Morten and Erik wanted to put an end to. They thought about it for a while, spent a lot of time plotting it out and it all gave rise to a business plan.
Their vision was to create a model that could attract and retain the most skilful and visionary of consultants. They wanted to give back a larger share to the consultants than in a traditional company. And this model had to inspire even longer-term commitment than permanent employment. Teamwork should also be the focal point instead of the individual consultant.
This all led to a business model where the risk is not carried solely by the owners, but where the consultants are willing to actually invest in the company. It is a cross between a traditional consultancy firm and a freelance model, a hybrid between sole traders and employees, where consultants are only measured and remunerated based on the results they create with the team and our clients.
In other words, the consultants are personally invested in success, and this typically results in long-term relationships between our clients and our consultants. The business model is very attractive to the most skilled consultants, who typically have more than 10 years of experience.
The first steps
In April of 2001, Globeteam was up and running. From then on, the company grew steadily. More consultants joined, Globeteam had to move to a larger office space, and along the way, it became necessary to hire administrative employees to keep track of the finances, and as time went on, to take on marketing, sales and similar functions too.
New management style
In 2010, Globeteam had reached a size and shape that meant an organisational change was required. The consultant group was divided into smaller, dedicated teams with corresponding team leaders, and so the time had come for Claus and Erik to also redefine their roles within the company accordingly.
Erik wanted to continue as a consultant but dedicate the rest of his time to other things. Claus continued as CEO and made a decision to change the management style. Previously, no decisions could be made until all managers had reached agreement, but that model did not work with the company’s growth and business model. Therefore, in the summer of 2010, Claus started a training course as an executive coach.
That was the first step towards a change from consensus management to a more coaching management style. The new, redefined role and management style provide the opportunity for dialogue, where the consultants themselves make the decisions and are in that way a part of setting the direction and strategy for Globeteam. This creates an open space where there is room for disagreement and dialogue.
During the next few years, Globeteam continues its positive growth. A sales department is established to support the consultants, Globeteam’s services are focused within the business areas Business Consulting, Infrastructure and IT development, the positive development is reflected in the turnover, and in 2014, Erik leaves his position as chairman of the board and is replaced by Mogens Elsberg.
In the beginning of 2018, Globeteam incorporates one of business life’s heavyweights into its circle of owners. Kirk Kapital, the LEGO family’s holding company, buys 34 percent of Globeteam for a large two-digit million figure. This happens by Kirk Kapital buying C13 and Erik Arnbak out of Globeteam.
“We see a company with significant potential for further growth. Globeteam delivers consultancy services within IT, which to a large extent helps develop and support the business in the companies that the corporation collaborates with. We foresee the entire area of digitalisation growing for years to come, and Globeteam is well-positioned within this macro trend”.
Kim Gulstad, CEO of Kirk Kapital
Read the press release ”Kirk Kapital acquires a third of Globeteam” and the article published in Børsen 19th January 2018 ”LEGO family acquires IT firm with 75 consultants”.
Thus, Erik steps out of Globeteam entirely, as a consultant and also from the board.
In 2020, while Denmark is in lockdown due to the COVID-19 pandemic, Globeteam manages to re-saddle and follow the societal needs that the crisis creates. Among other things, this means that two new teams, working with cyber & information security and process & solution management, saw the light of day.
In 2021, Norvestor VIII, a fund managed by the Nordic private equity firm Norvestor, acquires the majority shareholder position via Kirk Kapital and Claus Moldow. Both Kirk Kapital and Claus Moldow continue as shareholders, and so does Morten Strunge Nielsen.
”Globeteam has a unique business model and is capable of delivering one of the market’s best IT services. The company has also seen impressive growth and financial development for a number of years. We do not doubt that there is still a lot of growth potential for Globeteam in Denmark. Moreover, we see that a natural next step would be to expand into the Nordic market, a market that Norvestor knows very well. Then the ambition is to expand to the rest of Scandinavia and subsequently to Europe.”
Kasper Skovgaard Kristensen, Investment Director at Norvestor.
Read the press release ”Norvestor acquires Globeteam” and the article published in Børsen on 16th June 2021 ”Nordic private equity fund becomes new majority shareholder in Danish IT company: Takes over majority position from Kirk Kapital”
Norvestor’s investment in Globeteam leads to a new board, which prospectively consists of chairman of the board Arne Norheim and board members Mogens Elsberg, Henning Vold, Kasper Skovgaard Kristensen and Andreas Færk.
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