Ufenau buys majority stake in Ikor

The company's management will retain a significant minority stake in the business.

Ufenau deployed equity from Ufenau VI German Asset Light, which held a final close on €560m in August 2019. The vehicle targets companies with revenues of €15-150m and deploys equity cheques of €5-20m.

The investment in Ikor is the second platform investment from the fund, following the acquisition of a majority stake in digital marketing agency Integr8 in March 2020, as reported by Unquote. The fund is currently around 20% deployed.

Company
Founded in 1997, Ikor advises companies on digitalisation processes, including the use and implementation of SAP and Guidewire software. Its client base includes companies in the fields of financial services, industrials and insurance, as well as the public sector.

The company is based in Hamburg, with additional locations in Austria, Serbia and Poland, following the opening of its Warsaw office at the start of April 2020. It employs 200 staff. The company reported turnover of €17m in 2017, according to Northdata.

People
Ufenau Capital Partners – Ralf Flore (partner).
Ikor – Lars Ackermann (CEO).

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