30. May - 2017
LanguageWire is a Danish technology and translation firm, founded in 2000. Today, LanguageWire enjoys the services of more than 5,200 certified freelance translators and some 150 full-time employees in offices in 8 European countries, including two technology development centres in Kiev and Gdansk. LanguageWire has been profitable from the start, and today has a turnover of around DKK 200 million.
“We have been a company in massive development in recent years. We’ve created a unique platform concept for the benefit of our clients and translators, with great potential for both current and future markets. Therefore, we are very pleased to have an active partner in CataCap, who can help us enhance and accelerate our growth potential thanks to their operational experience and expertise”, said LanguageWire CEO Henrik Lottrup.
Lottrup will continue in his position and will still own a significant share of the company. LanguageWire’s senior management will also continue as shareholders.
“The crucial thing for me was to get a partner on board who understands our business model and shares our vision. It is in the company DNA to see that the clients’ translation processes are as simple and uncomplicated as possible. We believe that is a winning growth concept and we look forward to this new, ambitious chapter in the company’s history along with CataCap”, said Lottrup.
The global market for language service providers now comprises over 40 million dollars annually, and forecasts indicate growth of more than 10% going forward, not least driven by the growing need for multilingual digital content.
“LanguageWire has managed to create a platform-based business model by developing a high-tech IT platform that makes the agency’s services an integrated component of the client’s business and helps to create a simpler work process. This is a solid concept that clients are buying into, and one that we see as having tremendous growth potential in both current and future markets”, said CataCap Director Rasmus Lokvig.
LanguageWire currently serves more than 2000 clients from many different industries annually, especially blue-chip B2C customers and market segments where there is a high degree of communication with local consumers in their local language.
“Our ambition is to take LanguageWire through a step change within the next 3– 5 years, through both organic and acquisitive growth and by being an even stronger strategic partner for our domestic and international clients, who are faced with an increasing need for translation”, said Lokvig.
LanguageWire represents the eighth investment for the four-year-old CataCap capital fund, which focuses on catalysing step changes in Danish SMEs with high growth and development potential.
CataCap was advised by Gorrissen Federspiel, Arthur D. Little and Deloitte in the legal, commercial and financial areas, respectively.
LanguageWire was advised by BOX Associates, Mazanti-Andersen Korsøe Jensen and PwC in the corporate finance, legal and financial areas, respectively.
For further information, please contact:
Rasmus Lokvig, Director
+45 23 43 25 74
Henrik Lottrup, CEO
+45 26 87 02 00