Waterland-backed Tineo acquires Nexellent

The deal will expand Tineo's regional coverage and the product base for customers.

Nexellent's previous founders and shareholders will continue as shareholders in the new group.

Waterland acquired Tineo in September 2018 via the carve-out of the Quickline Business division from Quickline Holding. The acquisition was made with the aim of establishing a buy-and-build strategy in the Swiss IT sector.

The GP is currently deploying from Waterland Private Equity Fund VI, which invests in majority stakes in mid-market companies in Poland and the DACH region that operate in fragmented sectors.

Waterland recently invested in the DACH region with the acquisition of a 60% stake in German IT service provider Netgo in October.

Company
Nexellent is a Swiss IT company based in Glattbrugg, Zürich. It has 17 employees, according to LinkedIn.

The group provides infrastructure-as-a-service and platform-as-a-service cloud products involving Microsoft Azure, Microsoft 365 and the company's own infrastructure. Nexellent operates three data centres in Zürich and has partnerships with Swiss companies from sectors including healthcare and financial services.

People
Nexellent – Michael Siber (co-founder, managing partner).
Tineo – Stefan Buser (chairman).
Waterland – Gregor Hengst (principal).

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• Topics
• Portfolio management
• DACH
• Technology
• Switzerland
• Waterland Private Equity
• Build-up