HIG-backed Conet buys Babiel

The combination of the two businesses will lead to the creation of a more comprehensive portfolio of services for both sets of customers, according to a statement. HIG said it will continue to support the growth with organic and inorganic growth initiatives.

HIG acquired Conet in April 2017, drawing capital from HIG Europe Capital Partners II. 

Conet employed 400 people and generated revenues of €137m at the time of the acquisition.

Company
Babiel was founded in 1991 by Georg, Harald and Rainer Babiel. It offers IT consulting and infrastructure implementation services to German public and private companies. The company is headquartered in Dusseldorf and employs 100 people.

People
HIG Capital – Holger Kleingarn (managing director).
Conet Technologies – Anke Hoefer (CEO).
Babiel – Rainer Babiel (managing director).

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• Topics
• Expansion
• DACH
• Technology
• HIG Capital
• Build-up
• Germany