Stockholm (Sweden), 22 October 2020 – Triton Fund V (“Triton”) through Trisall AB (“Trisall”) is the owner of 91 percent of the shares in HiQ International AB ("HiQ")
This follows Tritons public offer, through Trisall to the shareholders of HiQ to tender 100% of the shares at a purchase price of 72 SEK per share. The shares tendered in the public offer as of 19 October 2020 amounts to in aggregate 50,871,458 shares in HiQ, corresponding to approximately 91 per cent of the share capital and the voting rights in HiQ.
Trisall has initiated compulsory acquisition of the remaining shares in HiQ and is promoting a de-listing of HiQ's shares from Nasdaq Stockholm. HiQ is a leading Nordic digital transformation company with a reputation of having among the strongest industrial and technology expertise in their market and is recognized as one of the leaders in custom application development for R&D, as well as for very strong digitalization and design capabilities. Digital services, systems and products are at the core of HiQ’s business offer which span the entire tech and media landscape, from initial business development and digital innovation of new services, business models and experience, all the way to implementation and marketing of these services.
"Triton has a tradition of investing in companies with high potential and is working closely with them to unlock such potential. With HiQ, we are now adding a top-class company to our portfolio, characterized by its expertise and strong culture. We look forward to actively supporting the management and employees of HiQ as a stable owner by investing in the growth and development of the company into a Northern European leader ", said Peder Prahl, Director of the General Partner for the Triton funds.
On 26 August 2020, Triton Fund V, through Trisall announced a public offer to the shareholders HiQ to tender all their shares in HiQ to Trisall for SEK 70 per share. The price was increased on 15 September 2020 to SEK 72 per share.
About HiQ
HiQ helps to make the world a better place by using technology and communication solutions to make people's lives simpler. HiQ is the perfect partner for everyone eager to achieve results that make a difference in a digital world. Founded in 1995, HiQ currently has close to 1500 specialists in four countries and is listed on the Nasdaq Stockholm MidCap list.
About Triton Partners
Founded in 1997 and owned by its partners, Triton Partners is a leading European mid-market sector-specialist investor. Triton Partners focuses on investing in businesses that provide mission critical goods and services in its three core sectors of Business Services, Industrial Tech, and Healthcare.
Triton Partners has over 150 investment professionals and value creation experts across 11 offices and invests through three complementary “All Weather” strategies: Mid-Market Private Equity, Smaller Mid-Cap Private Equity, and Opportunistic Credit.