Neither Luxembourg-based Cube nor Glesys, based south of Gothenburg, have quoted a price for the planned transaction.
Cube partner Stéphane Calas said: “Cube invests in businesses providing sustainable infrastructure to growing needs in the market. Cube has partnered with several talented management teams to achieve strong and sustainable growth.”
Cube has bought the shares from another investment fund, Via Equity, based in Denmark, and from minority shareholders and employees, including Glenn Johansson, CEO and founder of Glesys.
The company has data centres in Stockholm, in an old cable factory, in Falkenburg (pictured), south of Gothenburg on Sweden’s west coast, and in Oulu, at 65° north, in northern Finland.
It owns and operates a MPLS-based network that goes as far south as London and Frankfurt at speeds up to 100Gbps.
According to LinkedIn, Johansson set up the company in 1999. He said there: “Glesys is now entering a new chapter of our journey. Looking forward to continue to create the combination of value and sustainability for customers, shareholders and the fantastic team of employees.”
Johansson and other key employees will reinvest in the company alongside Cube to retain a minority shareholding, and will remain in the company.
Johansson said: “Over the last years, Via has been an incredibly supportive private equity owner for us, playing an instrumental role in our business’s successful growth. I am excited about embarking on the next leg of our journey together with Cube, as they represent the ideal partner for Glesys.”
Calas said: “Glesys, thanks to the quality of its services and investments to date, is very well positioned to address the increasing needs of Nordic SMEs for digital infrastructure.”
