Waterland to buy Direkt Gruppe

Waterland is investing via its latest vehicle, Waterland VII, which held a final close in August 2017 on €2bn.

Direkt Gruppe will be the fund's second investment of 2020, according to Unquote Data. The GP acquired Germany-based IT service Binary in January 2020. Direkt Gruppe will be the fund's third platform investment in the computer services sector.

Waterland declined to comment.

Company
Direkt Gruppe consists of a number of subsidiaries: Advanced Technology Direkt provides consulting and implementation for Microsoft software; Business Solutons Direkt provides SAP services; Marketing Solutions Direkt provides online marketing consultancy; and Solutions Direkt provides IT project consultation and implementation, including e-commerce sites and IT system organisation and development.

The company's client base includes large and Mittelstand companies in the DACH region from the insurance, media and IT sectors.

Founded in 1998, Direkt Gruppe is based in Hamburg, with additional sites in Munich, Cologne and Paderborn. It had 250 employees as of January 2019. The company reached revenues of €10m in 2010 and currently reports revenues of around €15m, according to Zoominfo.

People
Direkt Gruppe – Gerald Jenner, Karsten Kirsch, Kai Petersen, Nils Schultz (managing directors).

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