Synova buys Danish IT provider netIP after Adelis doubles its revenue
What's the deal? Synova, a European growth-focused private equity firm, has agreed to buy a majority stake in netIPDealroom has a profile for this one. Try Dealroom →, a Danish one-stop IT partner and managed services provider for small and medium-sized businesses. The seller is AdelisDealroom has a profile for this one. Try Dealroom → Equity Partners Fund III, which held the majority stake since September 2022. Terms were undisclosed.
What changes? netIP's management team will reinvest alongside Synova. The deal is subject to customary regulatory approvals and is expected to close around the turn of the year.
The numbers: Under Adelis' ownership, netIP more than doubled revenues and tripled EBITDA. The company now generates revenues of roughly US$73.3M and employs more than 270 people across 11 offices — up from around 165 staff and seven offices at the 2022 acquisition.
Why now? Adelis grew netIP through organic expansion and five add-on acquisitions, turning a regional provider into one of Denmark's leading managed IT service companies. With that build-up complete, Adelis is exiting after four years of ownership.
What's the endgame? netIP serves SMEs across IT outsourcing, infrastructure, cloud, AI services, cybersecurity, and consulting. Co-CEOs Brian Vesterbæk and Joakim Halvorsen said Synova "shares our ambition to become the preferred IT partner for Danish SMEs."
The signal: The handoff reflects a familiar private equity pattern in the fragmented IT services market: buy a regional platform, bolt on acquisitions, then sell the scaled-up business to a larger growth investor. Adelis, which manages roughly €4.5 billion and has made 51 platform investments since 2013, positioned netIP as a consolidator — a role its new owner is betting it can continue.
Read more: news.cision.com
Image credit: jurvetson
