In addition, the Company is pleased to announce the appointment of Léo Apotheker as Chairman of KMD.
With this acquisition, the new owners have invested in a solid and well-managed IT-company with the intention to strengthen KMD’s position in the market. Advent will be co-investing in KMD with Danish life insurance and pension group, Sampension.
Fred Wakeman, managing partner of Advent International said:
“KMD is a robust, well-run provider of IT solutions for the Danish market. We look forward to working with the management team to develop the company in Denmark. At the same time, it will be natural for KMD to continue its activities in positioning the company’s IT solutions in the international market”
International expert takes the helm
Advent has appointed Léo Apotheker, one of Advent’s strategic advisors, as Chairman of KMD.
Léo has held a number of significant top positions within the IT industry, including CEO of SAP AG and Hewlett-Packard. In addition, he is currently a member of the boards of several international companies including Schneider Electric SA, Steria, GT Nexus, and PlaNet Finance - a non-profit organization.
Commenting on his appointment, Léo Apotheker said:
“I’ve been following the company for some years, not least through SAP’s close collaboration with KMD. I know KMD’s management, and together with them I look forward to further developing KMD’s strong market position”
Composition of the board
Advent Director, John Woyton and Managing Partner, Fred Wakeman along with KMD’s Lars Monrad-Gylling, CEO and Carsten Fensholt, COO will be joining the Company’s board. Michael Christiansen and employee representatives Erik Lykke Hansen, Else Bergman, Bjerne Kaj Nielsen and Christian Thulstrup will remain on the board.
Looking forward to the new collaboration, CEO Lars Monrad-Gylling said:
“We have an exciting journey ahead of us. We have a good team on the new board which will help to develop KMD and further realise our potential. We’re getting more international experience with the new owners and our new chairman of the board. This will help to strengthen KMD”
KMD is the largest Danish-based IT company. The majority of KMD’s business derives from its own software development. For the last 40 years, KMD has developed, operated and maintained the largest IT systems in the Danish local governments. KMD develops and delivers software and service solutions to the local government, central government and private markets in Denmark. Among other things, the systems handle payment of salaries and welfare benefits, and every year KMD’s software systems calculate and pay out more than DKK 400 billion. This is equivalent to around 25% of Denmark’s GDP. KMD’s software systems also handle everything from the administration of schools and utility companies to the running of Danish parliamentary elections. Recently, KMD began digitising major areas ‒ from municipal primary and lower-secondary schools to home care ‒ with new technology. KMD has annual revenues of more than DKK 4 billion and employs around 3,400 people. Read more at www.kmd.dk