Livingstone advisor on the merger of PrimeQ and VIEW Ledger
Livingstone has advised the founders and owners of PrimeQ AB (“PrimeQ”), a group that supplies proprietary software, third-party software and services within IT, telephony, accounting, payroll, ERP, decision support and e-commerce. PrimeQ was founded in 2011 and has since established a strong position in a growing market. The merger of PrimeQ and VIEW Ledger strengthen the companies’ offering, while at the same time the businesses broaden throughout the Nordics.
PrimeQ was founded in 2011 with the vision to create a unique combination of products and services in finance, business related support systems and IT. By combining and packaging customised solutions, the company has established the position as a partner with many specialists. The company has a turnover of approximately SEK 175 million and currently has approximately 100 employees based in Stockholm, Västervik, Motala, Norrköping and Västerås.
“By merging with PrimeQ, we are taking a strategically important step forward. PrimeQ will bring very interesting products and a strong technical specialist competence that strengthens us in the IT area. Together with the financial services, we get a unique offer for our joint customers in the Nordics”, says John Hugosson CEO at VIEW Group.
VIEW Ledger acquires all outstanding shares in PrimeQ, while the current owners of PrimeQ reinvest and become co-owners of the merged entity. In total, the new combined operations will have approximately 540 employees in the Nordics and a turnover of approximately SEK 675 million.
“Livingstone’s professional and constructive work has really been a great support and decisive for us being able to complete the transaction in record time. Livingstone quickly put together a very capable team with different skills that gave us the right support in every phase of the process. Even before the process, Livingstone had started work to understand us and our business to then be able to help us when we were ready to initiate the process”, says Claes Völcker, CEO and co-owner of PrimeQ.
VIEW Ledger is part of the VIEW Group, which in turn is co-owned by the Norwegian private equity company Explore Equity. The company was founded in 2004 by three brothers, and is today a fast-growing Nordic company in “AccounTech” and IT. The roughly 420 employees are located at around 20 offices in Sweden, Norway and Finland. Together they deliver ERP systems, accounting technology and services in accounting, payroll, and finance. The company’s turnover before the merger with PrimeQ was approximately SEK 500 million.
Livingstone’s team thereby completes another transaction in the sector, following the sale of Swedwise to Storskogen, the sale of Adtoox to Peach, and the sale of PDSVISION to CapMan
Forssander Sonander acted as legal advisor to PrimeQ during the sales process.
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- "Livingstone’s professional and constructive work has really been a great support and decisive for us being able to complete the transaction in record time. Livingstone quickly put together a very capable team with different skills that gave us the right support in every phase of the process. Even before the process, Livingstone had started work to understand us and our business to then be able to help us when we were ready to initiate the process"Claes Völcker, CEO and co-owner, PrimeQ
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