Finnish Industry Investment Ltd (“Tesi”) has today, on 3 June 2021, sold its shares in LeadDesk Oyj (”LeadDesk” or the ”Company”) in an accelerated book-building to a limited number of Finnish and international institutional investors (the ”Share Sale”). Tesi sold a total of 527,735 shares, representing approximately 10.02 per cent of all the shares and votes in the Company. The purchase price in the Share Sale was set at EUR 23 per share and the gross sales proceeds amounted to approximately EUR 12 million. After the Share Sale, Tesi does not own shares in the Company.
Tesi invested in LeadDesk in 2015. LeadDesk shares were listed in 2019. The total return of the share since IPO based on yesterday’s closing price was 244 per cent. During Tesi’s ownership LeadDesk sales increased from approximately EUR 5 million to approximately EUR 14 million in 2020.
The Company has delivered strong organic growth fueled by successful acquisitions in Finland and internationally. The strong performance was demonstrated with over 45 per cent annual recurring revenue growth in 2020. LeadDesk stands in a strong position as the Nordic’s leading contact software vendor to continue its strong international SaaS growth story.
”During Tesi’s ownership LeadDesk has been successful in growing its business in Europe, which has also significantly helped in its ownership base becoming more international. LeadDesk is now in a great position to continue its growth with its current, professional management team. We are also happy that First North has proven to be a functional marketplace for venture capital backed companies”, says Juha Lehtola, Director, Venture Capital at Tesi.
Skandinaviska Enskilda Banken AB (publ) Helsinki Branch acted as the Sole Bookrunner in the Share Sale.
For further information, please contact:
Juha Lehtola, Director, Venture Capital, Tesi
+358 400 647 671
Tesi (Finnish Industry Investment Ltd) is a state-owned investment company that wants to raise Finland to the front ranks of transformative economic growth by investing in funds and directly in companies. We invest profitably and responsibly, hand-in-hand with co-investors, to create the world’s new success stories. Our investments under management total 1.9 billion euros. www.tesi.fi |@TesiFII