GRO exits Queue-it, the global leader in online traffic orchestration, as the company enters its next chapter with THL Partners

COPENHAGEN, DENMARK – 18 August 2026 – GRO Fund II today announced that it has agreed to sell its majority stake in Queue-it, the global leader in online traffic orchestration, to THL Partners (“THL”).

Queue-it pioneered the virtual waiting room category more than 15 years ago and has since evolved into the global standard for online traffic orchestration. Its platform enables enterprises and public organisations to manage online traffic surges, protect digital infrastructure, prevent abuse from bots and malicious actors, and deliver fair, transparent, and reliable online experiences. Trusted by customers across e-commerce, ticketing, government, and financial services, Queue-it helps organisations maximise performance and protect their most business-critical digital moments.

GRO invested in Queue-it in March 2020, partnering with the founding team to accelerate the company’s international growth and evolve Queue-it from a virtual waiting room solution into a full traffic orchestration platform. During GRO’s ownership, Queue-it grew its annual recurring revenue more than 5x, built a genuinely global customer base across Europe, APAC, and the Americas, and invested systematically in its commercial, product, and leadership capabilities to match the scale of the opportunity. Today, with the rapid growth of agentic AI traffic creating a structural step-change in the complexity of digital demand, Queue-it is better positioned than ever to play a critical role for its customers.

Jesper Essendrop, CEO of Queue-it, says:

“We are excited to partner with THL as we enter a new chapter in Queue-it’s journey. We would not be in this position without the partnership and genuine commitment of GRO over the past six years – their strategic guidance, network, and hands-on support have been instrumental in shaping the company we are today. Together with THL, we will continue investing in innovation, supporting our customers globally, and strengthening our position as the leading platform for online traffic orchestration.”

Lars Dybkjær, Managing Partner at GRO, comments:

“Queue-it has been an outstanding journey. From its Nordic roots, the company has grown into a true global category leader, with a remarkable track record of growth, improving profitability, and a team that has executed exceptionally at every stage. It has been a privilege to partner with the founders and with Jesper and his management team through this chapter, and we have no doubt that the best is yet to come.”

Jordan Welu, Managing Director at THL, adds:

“As the volume and complexity of digital traffic continues to grow, Queue-it is exceptionally well positioned to play an increasingly important role for its customers. We want to thank GRO for the role they have played in helping build the company to this point, and we look forward to working with Jesper and the team on the next chapter.”

Houlihan Lokey acted as financial advisor and Bech-Bruun as legal counsel to Queue-it and GRO in connection with the transaction.

About Queue-it

Queue-it is the global leader in online traffic orchestration. Its technology platform enables enterprises and public organisations to manage online traffic surges, protect digital infrastructure, prevent abuse from bots and malicious actors, and deliver fair, transparent, and reliable online experiences. Trusted by organisations worldwide, Queue-it helps customers maximise performance and trust during their most business-critical digital moments.

For more information about Queue-it please visit queue-it.com

About GRO

GRO is a Northern European private equity firm focused on accelerating growth for advanced B2B software companies. Leveraging decades of software investing and operational scaling experience, GRO partners with management teams to strengthen scalability and execution. Through active ownership, strategic guidance, and a deep network of peers, experts, and operators, GRO helps its companies achieve long-term success with the power to transform industries.

For more information about GRO please visit grocapital.dk

About THL Partners

THL Partners is a premier private equity firm with USD 17 Bn under management, investing in middle-market growth companies exclusively within Healthcare, Financial Technology & Services, and Technology & Business Solutions. THL couples deep sector expertise with dedicated operating resources to build great companies of lasting value in partnership with management teams.

For more information about THL Partners please visit thl.com

GRO Contact

Lars Dybkjær

ld@grocapital.dk