HgCapital to acquire a majority stake in IT Relation for £16m.

Hg invested in IT Relation, a leading Danish supplier of managed IT services to small and medium sized enterprises (SMEs). Hg acquired a majority stake in IT Relation from Adelis Equity Partners. The terms are not disclosed. Nick Jordan, Partner and Jonas Samlin, Principal, at Hg, said: “Henrik Kastbjerg and the IT Relation management team have built an exceptional business addressing the need for SMEs to operate their mission-critical IT in the cloud. We look forward to partnering with the business in the next phase of growth in Denmark and internationally.”