CapMan Technology 2007 funds managed by CapMan and other owners of IT2 Treasury Solutions (IT2) have sold 100 percent of IT2's shares to Wall Street Systems.
IT2 provides treasury management software and services for large corporations and small and mid-sized financial institutions. The company is headquartered in London and has offices in Copenhagen, Amsterdam, New York and Hong Kong. CapMan Funds invested in IT2 in July 2007. During the funds' holding period, IT2's revenue increased at CAGR of 17%.
"IT2 was a very successful investment for the CapMan Technology 2007 funds and we are pleased with the opportunity to develop the company into a significant treasury management service provider. We invested in IT2 primarily because of the company's competitive product, strong reputation and international growth opportunities. The business has developed even faster than we initially expected, especially in the United States, and profitability has remained high throughout the CapMan investment period." says Chairman Tommy Valther Hansen.
"The company's prospects to continue its successful operations as part of a larger group remain excellent," says CEO Kevin Grant.