NetNordic strengthens its position in Denmark as RanTek joins the team

NetNordic, majority owned by Norvestor VII, L.P. (“Norvestor”), has signed an agreement to acquire RanTek, a Danish system integrator specialized in optimizing network, security, data centers and backup solutions.

The acquisition will strengthen NetNordic's position in the Nordic market and complement NetNordic’s service offering in the Danish market.

*“RanTek is a great fit for NetNordic in terms of expanding our services and geographical presence in Denmark, and they fit perfectly with our culture. With RanTek's commitment and focus on technology, we create a clear added value for the customer, strengthen our position in Denmark, and continue to build a leading position in the Nordic region.” *says Jarl Øverby, CEO of NetNordic Group and Andreas Nørfelt, CEO of NetNordic in Denmark.

RanTek’s mission is clear: Customers deserve a great user experience, and IT infrastructure should be optimized for maximum flexibility, quality and cost predictability. This can be done through “Next Generation Technologies” and tailored services that enable simplification and automation in a secure way.

“RanTek's employees are, and always have been, the most important part of RanTek's success. By joining NetNordic, we strengthen our position in Denmark and gain opportunities and colleagues in rest of the Nordics. This will certainly benefit both us and our customers.” says Rene Bach Pedersen, CEO of RanTek A/S.

Key shareholders in RanTek reinvest significantly in NetNordic as part of the transaction. This is NetNordic's 8th acquisition since Norvestor invested in the Company in 2017.

_For further information: _

Christian Sontum, Partner in Norvestor Telephone: +47 991 53 698 Email: cso@norvestor.com

Jarl Øverby, CEO of NetNordic Group, Telephone: +47 982 17 009 Email: jarl.overby@netnordic.com

Rene Bach Pedersen, CEO of Rantek A/S, Telephone: +45 26 80 54 54 Email: rbp@rantek.dk

NetNordic is a Nordic system integrator, specialized in the area of network, security and business communication. NetNordic deliver customer specialized solutions and services. We always strive to be our customers’ “Best Companion”, we want to help our customers with their unique IT challenges, allowing them time to focus on their own core business. NetNordic is headquartered in Oslo. NetNordic has approximately 1.5 billion NOK revenue (pro forma) in 2019. After the acquisition, the company has approximately 360 employees in 15 offices in the Nordic countries, and our solutions are distributed through subsidiaries in Norway, Sweden, Denmark and Finland. Read more at www.netnordic.com and follow us on social media.

RanTek is a leading system integrator specialized in optimized network, security and smart data services. RanTek was established in 2001 and has since delivered high end services in the Danish market. RanTek has 18 employees and revenue of approx. 50 million DKK. RanTek has been named Gazelle company for 3 consecutive years. Read more at www.rantek.dk

Norvestor is a leading private equity company focusing on lower mid-market buyouts in the Nordic region. The team has worked together since 1991 making it one of the most experienced private equity teams in the Nordics, having executed 71 investments with >250 add-on acquisitions, in addition to executing 48 exits, including 15 IPOs. Norvestor focuses on investment opportunities in growth companies, making platform investments principally in Norway and Sweden, with potential to achieve a leading Nordic or international position either through organic growth, through acquisitions or by expanding into new countries. Read more at www.norvestor.com