CataCap makes its first investment and forms a partnership with Telecare Service

19. June - 2013

CataCap is the new majority owner of high growth mobile repair service provider Telecare Service A/S that has expanded to become market leader in Denmark within the last few years. Turnover has tripled from 2010-2012 and the objective now is to become a market leader across the Nordics and realize the significant growth potential. Founder Jens Due maintains a significant ownership stake and will remain as CEO.

CataCap acquires a majority stake in Telecare Service A/S. Telecare has built a market leading position in the Danish market for in-warranty repairs and service of mobile phones through rapid organic growth and in 2012 the company entered Sweden securing a significant market share within the first year of operations. During the period 2010-2012 Telecare increased sales from DKK 38m to DKK 134m and today the company employs 200 people. The growth is the result of a focused strategy, timely execution and service quality.

Telecare is licensed to perform both light and heavy repairs by all major manufacturers of mobile phones and services some of the largest Nordic Telecom operators, including TDC, Telia and 3.

Founder Jens Due is enthusiastic about the investment and the prospect of working closely with CataCap. He sees this partnership as key to the fulfilment of his ambition for Telecare to become the largest mobile phone service provider in the Nordics.

“We have tripled our sales in the last two years which is testimony to our robust business model. In order to implement an international roll-out, however, we need to strengthen our organisation and internal processes. This is a key focus area in order to maintain a quality service and sustain future growth and in this context we expect to gain a lot from working with CataCap” says Jens Due, who continues as CEO and maintains a significant minority shareholding in the company.

Telecare Service A/S is CataCap’s first investment since its capitalisation in December 2012. According to CataCap Partner, Vilhelm Hahn-Petersen Telecare is a sweet spot investment for CataCap with its focus on catalysing step changes in companies with high growth potential through operational leverage and experience in international expansions:

“We are impressed with Telecare’s innovative business model, their ability to win new contracts and deliver a quality service even at high growth rates. And we are convinced that Telecare has further growth potential and is well positioned to become the Nordic market leader. Our aim is to support Telecare in releasing this potential”, says Vilhelm Hahn-Petersen. “Both OEMs and operators demand a joint Nordic service platform. The partnership with CataCap enables Telecare to establish such a platform which can set the standard in the market”, he continues.

The ownership structure post-transaction is as follows: CataCap I K/S 60%, Jens Due 25%, Jacob Thygesen (private investor and Investment Board member at CataCap) 10%, and other management and board members 5% (allocated).

Implement, PwC and Accura have advised CataCap on the transaction.

For further information please contact:


CATACAP

Vilhelm Hahn-Petersen, Partner
+45 71 99 19 01
vhp@catacap.dk


TELECARE

Telecare
Jens Due, CEO
+45 40 40 68 68
jdu@telecareservice.dk