Kirk Kapital buys one third of Globeteam

Kirk Kapital has bought 34 percent of the IT consultancy firm Globeteam. This is because Kirk Kapital has acquired the shares of  DICO A / S’ investment company, C13, as well as the shares of board member and co-founder of Globeteam Erik Arnbak.

Globeteam has grown significantly during the recent years. Currently the company has 75 consultants and provides IT consulting services to private companies and the public sector, including the Ministry of Foreign Affairs, the Danish Courts, the Danish Environmental Portal and a number of municipalities. Private companies include Rockwool, Kromann Reumert and DSV.

Kim Gulstad, CEO of Kirk Kapital, welcomes the opportunity to invest in Globeteam.

“We see a company with a significant further growth potential. Globeteam provides consultancy services within the IT area, which greatly contribute to the development and support of the business of the companies Globeteam collaborates with. We predict that the whole area of digitization will continue to grow, and in this macro trend Globeteam is well positioned,” says Kim Gulstad.

He does not want to say exactly how much Kirk Kapital has paid for the 34 percent stake. But Kim Gulstad says that it is a significant two-digit million amount.

Globeteam’s revenue in 2017 is expected to be around 190 million DKK with a continuing growing surplus on the bottom line. Thus, Globeteam continues the two-digit growth rates that the company has been showing in recent years.

And at Globeteam, Claus Moldow looks forward to working with Kirk Kapital.

“We have been in dialogue with Kirk Kapital for the past six months, and we look forward to getting Kirk Kapital on board the expansion we anticipate,” says Claus Moldow.

Globeteams growth plans

Even though the consultancy firm already has pushed the accelerator firmly, according to Claus Moldow, it is crucial for the continued growth that Globeteam now get new resources on the drive.

“We are proud that many public and private companies have chosen close cooperation with Globeteam, and we are pleased with the customers we have in the portfolio. However, we would like to expand our current business further. We therefore believe the best way to bring Globeteam to the next level is with a new partner,” says Claus Moldow.

Chairman of the Board of Globeteam Mogens Elsberg is pleased to announce that Kirk Kapital will be represented on the company’s board of directors.

“With Kirk Kapital as a partner as well as a representative of the Board, we are given additional resources and competencies to the Board. We will get an investor who wants to be a long-term co-owner and who likes the development that Globeteam has been through and backs up Globeteam’s forward-looking plan,”says Mogens Elsberg.