Tofte & Company – Executive Capital acquires minority stake in Duka
Duka, headquartered in Aarhus, Denmark, introduced its best in class support solution to the market in 2010 and has since experienced continuous growth. The company first launched with PC’s but has later expanded into tablets, iPads and mobiles. Duka has managed to create a solution where the end-user has all needs covered from a single point of contact thereby creating a superior user experience. The company has from the beginning had the mission to make technology products easy to use and their very low customer churn indicates a mission accomplished. Duka was listed amongst the 1,000 fastest growing IT companies in Europe on Financial Times list.
Duka is tapping into a growing 3.3 bnEUR European tech support market with an attractive business model based on subscriptions and already have a strong foothold in Denmark and Norway with more than 30,000 subscribers.
“We have throughout the process been impressed by the professionalism of Tofte & Company. They have impressed us both with the business understanding and deal making skills,” says Kim Krohn Gervin, CEO of Duka. “We have secured an attractive deal and Tofte & Company managed to find the perfect value adding partner in Executive Capital that has an extensive network and solid experience in developing technology businesses. Furthermore we felt the personal chemistry needed to engage on a joint journey.”
“Working with Tofte & Company has been a pleasure. They have impressive deal making skills and a professional approach,” says Klavs Vejlang (Chairman and partner at Executive Capital).
“Duka is truly an innovative company build on a customer centric approach and strong values. They have managed to make the use of technology products easier thereby fueling the digitalization of the countries in which they operate. You sense the previous experience from both Kim and Rasmus (Thostrup Møller, COO of Duka) in terms of a professional driven organization relentlessly following a mission of best in class customer service. In Executive Capital they now have a partner with extensive experience and an impressive track record. I very much look forward to follow the journey of Duka,” says Thomas Tofte, Managing Partner of Tofte & Company.
Duka today employees more than 50 employees in Hinnerup outside Aarhus. The company was founded in 2010 to sell hardware to the senior segment without any IT knowledge and today has more than 30,000 subscribers with service and support for PC and mobile devices. Duka today offers 3 products (dukaPC, dukaPRO and dukaTALE).
About Executive Capital:
Executive Capital is an investment partnership formed by seasoned business executives that develops and professionalize Danish small and medium size companies through investing own fund and expertise. The partners of Executive Capital have typically been executives themselves and developed a smaller company to a larger international business and therefore has extensive experience with the challenges facing SMV’s.