Cornerstone sells Infoniqa SQL back to management

The deal ends a five-year holding period for Cornerstone, which acquired Infoniqa SQL in a leveraged buyout in 2012.

Under Corerstone's ownership, the company increased its sales from CHF 24m to CHF 42m. It made two bolt-on acquisitions in this time, Glasshouse Technologies in 2013 and Hirt Informatik at the end of 2016.

Urs Tschudin, the chair and new part-owner of Infoniqa, said in a statement that because Cornerstone's holding period was restricted to five years, he and Roger Hegglin took the opportunity to buy the company. Cornerstone retains ownership of Infoniqa Payroll, the other subsidiary of Infoniqa HR group.

The new owners plan to grow the customer base by expanding the cloud software aspect of the business.

Previous funding
SQL was sold to Vienna-based Infoniqa Holding, which was majority owned by German Capital Partners, in 2007.

Cornerstone then acquired a majority of the shares in the Swiss division of Infoniqa, which became Infoniqa SQL in a management buyout in 2012.

Tschudin and Hegglin took a minority stake at this stage. The transaction was leveraged but further details were not disclosed.

Company
Infoniqa SQL was founded in 1988 and is based in Baar, Switzerland. It provides data management and storage services to large corporations and institutions such as the University of Zurich. It currently employs 70 people and has additional offices in Zurich and Bussigny-près-Lausanne.

People
Infoniqa SQL – Urs Tschudin (chairman); Roger Hegglin (CEO).

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• Topics
• Exits
• Buyouts
• DACH
• Support services
• Cornerstone Capital AG
• Switzerland
• Management buy-back