Braathe Gruppen goes from strength to strength in partnership with Stratema
Braathe Gruppen has brought onboard Stratema to boost its quest for a NOK 500 million annual turnover.
Braathe Gruppen has brought onboard Stratema to boost its quest for a NOK 500 million annual turnover. Its latest acquisition means that the IT company looks set to reach this milestone already next year, well ahead of the original plan.
Braathe Gruppen started out as a family business in the late 1980s. Over the years, the IT company has expanded to include not only a large-scale data centre on the family estate back at Rygge in Østfold, but also branches in Oslo, Tromsø, Skien, Kongsberg and most recently Bodø, Harstad and Mo i Rana. – This has been a long-term process, says Chief Executive Officer Tron Braathe, who has for the last two years collaborated with Stratema on their Braathe 500 vision. This aims for a turnover of NOK 500 million by 2025. Braathe Gruppen is now expected to get there already next year; five years ahead of plan.
– Stratema was crucial in accelerating the pre-negotiation phase by identifying attractive takeover candidates and successfully pitching us to those candidates. This fruitful collaboration has delivered great results more swiftly and easily than we anticipated, says Mr Braathe. Braathe Gruppen recently acquired the Bodø-based IT company iTet, thereby achieving a nationwide presence.
For Dave Sandberg of Stratema, Braathe Gruppen has been an exciting client to work with. – There are not that many players with a turnover between NOK 200 and 500 million, and Braathe Gruppen has succeeded in joining the league of medium-sized players by adopting a long-term perspective and sticking to a well-founded strategic plan, he says. – Braathe Gruppen is proactive with a strong track record in acquiring smaller companies. The plan we devised together has hit a nerve in the market, says Mr Sandberg.
Growth does not happen overnight, and requires a focused long-term effort. Stratema provides strategic advice on the acquisition and divestment of businesses, backed by their strong market and industry knowledge. The objective is to help businesses grow, by boosting both turnover and market shares over time. – We are looking to the long term. We never focus on a single deal, but on the strategic objective driving a client’s acquisition pattern, explains Dave Sandberg. The Stratema team has over the last few years worked systematically with Braathe Gruppen to expand its turnover, workforce and geographical footprint. The acquisition of the iTet group has strengthened the national presence of Braathe Gruppen, as well as its public sector offering. This acquisition leaves the IT company with 175 employees and an annual turnover of NOK 440 million. – We achieved nationwide coverage and are leveraged for further growth. We are well placed to reach our half-a-billion milestone several years ahead of schedule, says Tron Braathe.