Adelis successfully exits Knightec

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Adelis Equity Partners Fund I (“Adelis”) has divested its majority stake in Knightec, a leading technology and digitalisation consultant, to investment company Ratos. The transaction values Knightec at an EV of SEK 1,625 million.

Adelis invested in Knightec in 2017 in partnership with Dimitris Gioulekas, founder and CEO, along with a large number of key employees. During Adelis’ ownership, Knightec doubled its revenue to SEK 941 million whilst tripling EBITA to 140m and reaching an industry-leading margin of 15%. This has been achieved thanks to a focused growth strategy within areas such as cloud connectivity and cyber security, as well as a successful project-based business model. In addition, Knightec has made several strategic acquisitions, including Dewire and Daresay.

”Dimitris and the management team have done an outstanding job transforming Knightec into a leading digitalisation and R&D consultant for blue-chip customers. We are honoured to have been a growth partner to this great company, and look forward to following Knightec in its continued journey”, says Erik Hallert at Adelis.

”I am very thankful for the partnership with Adelis and their contribution over the past years. This has been a true joint effort, resulting in impressive organic growth and a more assertive company. We welcome our new growth partner, Ratos, and look forward to exploring exciting opportunities ahead", says Dimitris Gioulekas, CEO of Knightec.

The transaction is subject to anti-trust approval.

For further information:

Dimitris Gioulekas, CEO Knightec, +46 70 569 96 88

Erik Hallert, Adelis, +46 70 936 80 41

About Knightec

Founded in 2003, Knightec is a leading and fast-growing consultant in the intersection of digitalisation, technology and design services. Knightec serves high-profile clients across various industries including automotive, life science, finance, telecom and defense. The company has more than 800 employees across 12 offices in Sweden. Knightec’s vision is to move forward together with clients towards a more intelligent and sustainable world. For more information, please visit

About Adelis Equity Partners

Adelis is a growth partner for well-positioned, Nordic companies. Adelis partners with management and/or owners to build businesses in growth segments and with strong market positions. Since raising its first fund in 2013, Adelis has been one of the most active investors in the Nordic middle-market, making 32 platform investments and more than 150 add-on acquisitions. Adelis today manages approximately €2 billion in capital. For more information, please visit


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