Afinum invests in IT Works

The GP drew equity from its sixth buyout fund, Afinum Achte Beteiligungsgesellschaft, which held a final close on €410m in September.

Company management has retained a stake of around 10% and Afinum took the remaining 90%. 

Afinum said it has agreed plans with management to execute a series of initiatives geared towards an enhancement of sales and a deepening of the group's service offering in geo-marketing, data analytics and digital product solutions.

IT Works reported a €15.8m gross profit from sales of €158m in 2015. Its sale increased to €175m for 2016, according to a source close to the situation.

The company's founder Thomas Toporowicz will become chair of the advisory board. He will be joined on the board by Christian Schulmeyer (formerly of Empolis Information Management), Martin Schnaack (formerly of Avantgarde Gesellschaft für Kommunikation) and Michael Bohn (formerly of Organisation of German media agencies).

Company
Founded in 2007, IT Works is headquartered in Düsseldorf with offices in Berlin, Frankfurt and Hamburg. The company works for advertising agencies as well as advertisers themselves to design, optimize and execute public media campaigns. It currently employs 70 people.

People
Afinum Management – Burkhard Wangenhaim (director).
IT Works – Thomas Toporowicz (founder).

Advisers
Equity – Rödl & Partner (legal); Taylor Wessing (commercial due diligence); Solon (ESG due diligence).

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• Topics
• Buyouts
• DACH
• Industrials
• Germany
• Afinum