
Afinum acquires Fast LTA
Afinum has wholly acquired Munich-based data storage business Fast LTA.
The GP aims to support Fast LTA's growth by consolidating existing services and relationships, as well as expanding to new geographic areas and introducing new products for adjacent market segments using the company's R&D division.
Afinum used both debt and equity for the acquisition, investing from Afinum Achte Beteiligungsgesellschaft, which deploys tickets of €20-50m per investment. The deal marks the seventh investment from the vehicle, which will make 12-14 investments in total.
Company
Established in 2006, Fast LTA offers storage facilities for key business data, aiming to prevent data loss and ensure regulatory compliance. The company's client base consists of 2,000 businesses, including Siemens and Philips, as well as German companies in sectors ranging from telecommunications to healthcare.
Unquote understands that the company has revenues of €15-20m. It employs 80 staff.
People
Fast LTA – Steffi Körner (CEO).
Advisers
Equity – Singular Group (commercial due diligence).
Company – Hampleton Partners, Jan Eiben, Tim Stemkens (corporate finance).
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