Right People Group announces the acquisition of Avenida

Right People Group (“RPG”) is pleased to announce the strategic acquisition of Avenida Consult ApS (“Avenida”), a distinguished Danish IT consulting company renowned for supplying top-tier IT freelance consultants to leading enterprises and public institutions.

This acquisition represents a significant milestone for RPG as it seeks to expand its service offerings and accelerate its growth in the rapidly evolving IT services market. By integrating Avenida, along with its seasoned management and organizational structure, RPG strengthens its strategic dedication to scaling up and enhancing its operations and service delivery across existing markets.

“Avenida has secured a strong market position and delivered impressive results over recent years,” states Agner Mark, Chair of RPG. He adds, “Avenida and Right People Group are a perfect complement to each other, forming an excellent partnership. We are excited about the opportunity to work with Jesper Geisler and his talented team.”

“At Avenida, we are very familiar with RPG, and have long been impressed by their well-run business, particularly their leadership in digitalization of sales and delivery processes, as well as their ability to scale and internationalize their concept. We are all incredibly excited to join RPG. The process leading up to the acquisition has further confirmed that we are entering a company with strong and ambitious leadership, with whom we deeply share aspirations” says Jesper Geisler, CEO in Avenida.

This transaction represents the first strategic add-on acquisition for RPG following its acquisition by Capidea in January 2024. The management team at Avenida will continue as stakeholders within the group, ensuring continuity and stability. The transaction is subject to customary regulatory approvals and is expected to be complemented in the second quarter of 2024.

About Avenida

Avenida is a Danish IT consulting firm based in Hellerup, specializing in the recruitment and placement of IT consultants. Serving Denmark’s top-tier enterprises and public institutions, Avenida leverages a compact yet effective team of nine employees and an extensive network of over 2,500 freelancers. Avenida’s delivery and business models primarily rely on top tier freelance IT consultants with well-established track records and competences. The business model provides the customers with the capabilities and flexibility necessary to be at the forefront of IT trends and workforce changes. In their 2023 Annual Report, Avenida reported gross profit of DKK 13.8 million and EBITDA of DKK 7.5 million. For additional information regarding Avenida, please visit avenida.dk

About Capidea

Capidea is a Danish private equity fund making long-term investments in competitive small and medium-sized Danish companies. Capidea was established in 2006 and has a total capital commitment of approximately DKK 3.6 billion in four funds. Capidea invests in companies within industry, trade, distribution, IT, and services. “Capidea has made investments in 30 companies, and Digital Group is the second investment in Capidea’s latest fund, Capidea Kapital IV K/S, which was established in April 2023 with a total capital commitment of DKK 1.3 billion.