ProData Consult to acquire French emagine Group to create the leading European provider of high-end business and IT consultants
Axcel has signed an agreement whereby ProData Consult partners with Paris-based emagine Group, gaining a strong foothold in France, Germany, and the United Kingdom.
ProData Consult, the leading Northern European talent-centric provider of high-end business and IT consultants, today announced that it is to acquire emagine Group that holds a strong market position in France, Germany, and United Kingdom. The transaction, facilitated by Axcel, is a significant milestone for ProData Consult in its aspiration to grow outside of the Nordics and will be the fourth acquisition ProData Consult undertakes in less than two years.
Utilizing its proprietary IT platform, ProData Consult offers its blue-chip clientele scalability and access to quality-assured high-end business consultants and IT professionals, both through its large network of local freelance consultants and its Nearshoring-as-a-Service delivered from three hubs in Poland.
“We are convinced that emagine is a perfect match for us in terms of enlarging our geographical reach, the IT platform synergies to be realized, and our corporate culture. emagine’s prominent positions in their key markets France, Germany, and the UK fits perfectly with our position in the Nordics and Poland. The enlarged reach will enable us to offer major domestic and international clients a fully integrated pan-European range of high-end, coherent IT consultancy services”, says Anders Gratte, CEO, ProData Consult.
ProData Consult, based in Copenhagen, reached EUR 202m in revenue in 2020 and employs 150 people. Servicing clients from 14 office locations in Europe and India, emagine Group achieved EUR 150m in revenue in 2020.
The double-digit organic growth ProData Consult has experienced in recent years is fuelled by the fact that digitalization is a top priority for most companies and their management teams in the Nordics and across Europe, according to Anders Gratte.
“Scalability and access to the most skilled IT resources in flexible, agile, and scalable models are more important than ever in the current unpredictable and fast-moving business environment,” says Anders Gratte.
emagine Group, headquartered in Paris, incorporates both consultancy and technical expertise in business, information technology, and engineering, providing clients with professional advice and expert skills to further develop and maintain their business performance.
Jean-François Bodin, CEO of emagine Group, said: “We are thrilled to join the ProData Consult team, a successful, fast-growing company with a strong IT platform, a great network, and impressive client portfolio. We are very similar to ProData Consult, and we share the same ambitions to deliver flawless services for IT and digitalization projects. We see great opportunities and look forward to developing synergies and expanding together”.
The private equity company Axcel announced their acquisition of ProData Consult on July 1st, 2021, and has facilitated the acquisition of emagine Group by ProData Consult as an important step in the aspiration to form a European IT consultancy powerhouse.
“With an evident track record of growth, the ProData Consult management team has already done a great job of building a company in a prominent position in Northern Europe. We are very pleased to have facilitated this transformative acquisition of emagine Group. We believe that ProData Consult’s proprietary IT platform, competent organization and the continued market growth, driven by digitalization, will create a strong basis for further expansion, and we are excited about the potential we see ahead”, said Christian Bamberger Bro, Partner at Axcel.
Anders Gratte will continue as CEO of the combined businesses post-closing. Jean-François Bodin will remain part of management and play an instrumental role in the integration process of ProData Consult and emagine Group.
The acquisition of ProData Consult by Axcel closed in August 2021. The acquisition of emagine Group is subject to customary regulatory approvals in relevant jurisdictions and is expected to close in the third quarter of 2021.
About ProData Consult
Established in 1994, ProData Consult is a leading Northern European talent-centric provider of business and IT consultants. ProData Consult offers its customers time and material-based consultants through its freelancer network, Nearshoring-as-a-Service, and vendor management services. The company had close to EUR 200m in revenues (2020) and employs around 150 FTEs. In 2020, the company had more than 2,600 individual consultants working for some of the largest and most prestigious clients in Scandinavia and Poland. ProData Consult is headquartered in Copenhagen and has offices in Sweden, Norway, Poland, the Netherlands, and Germany.
About emagine Group
emagine Group provides clients with professional advice and expert skills to further develop and maintain their business performance. The focus is to maintain long-lasting relationships and look for ways to develop and deliver innovative technology and services to clients. The company had a revenue of EUR 150m in 2020, more than 1,150 individual consultants delivered projects in 24 countries. The company is headquartered in Paris and has offices in France, Germany, India, Ireland, and the United Kingdom.
Founded in 1994, Axcel is a Nordic private equity firm focusing on mid-market companies, with a broad base of both Nordic and international investors. Axcel has raised six funds with total committed capital of over EUR 2.8 billion. These funds have made 61 platform investments with well over 100 add-on investments and 43 exits. Axcel currently owns 18 companies.
Paul Svinth Jensen
Tel: +45 4083 3230