Gimv acquires 23.6% stake in Cegeka

The GP plans to support the company's growth, both organically and by means of acquisitions through a buy-and-build strategy.

Other shareholders include CEO André Knaepen, the Limburg Reconversion Company (LRM) and the management of Cegeka.

Cegeka reported EBIT of €26.9m from €414m in sales in 2016, representing growth of more than 4x from 2007's figures of €6.7m EBIT and €97.6m sales.

Gimv intends to replicate this trajectory in the next five years, with the aim of doubling the size of the company. The GP says it will make extra resources available to the management team to support this growth.

Previous funding
André Knaepen acquired the company through a management buyout of the commercial branch of Cegeka Data Center in 1992. LRM has been a shareholder since it first invested in 1999.

Company
Founded in 1992 via a spin-out, Cegeka is a corporate ICT company based in Antwerp. It has offices in Austria, the Czech Republic, Germany, Italy, the Netherlands, Poland and Romania. It provides enterprise software and general ICT support to its clients.

The company generated EBIT of €26.9m from €414m sales in 2016 and employs 4,000 people.

People
Gimv – Tom Van de Voorde (head of smart industries).
Cegeka – André Knaepen (CEO).

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• Topics
• Expansion
• Benelux
• Technology
• Belgium
• Gimv
• Minority investing