Nordic Capital is to acquire a majority share in Foxway, a European provider of circular IT services from Norvestor, which will retain a minority interest in the business along with the company’s senior management team.
Sweden-based Foxway, which has eight offices in Europe and a presence in Asia and the US, has clients in more than 100 countries around the world. It helps businesses reduce their tech footprint by recovering and remarketing IT devices and providing the infrastructure necessary to ensure a sustainable life-cycle.
Nordic Capital and Norvestor will, in partnership with the company management, support Foxway’s continued growth.
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Nordic Capital, which has more than 30 years’ experience of accelerating growth of international companies, focuses on healthcare, technology & payments, financial services, and selectively, industrial & business services. Since its inception in 1989, Nordic Capital has invested €22bn in over 130 investments. The most recent fund is Nordic Capital Fund XI with €9bn in committed capital.
Source: Private Equity Wire
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