BayBG backs Weiss IT Solutions

CEO Alexander Friedl also acquired a stake in the business, according to a statement, while the company's pre-existing shareholders will remain as the majority shareholders.

In addition, the GP provided mezzanine financing to support the development of the business along with its management team, it said in the same statement.

BayBG provides growth capital and venture capital for companies based in Bavaria, and supports companies with turnaround projects and succession issues. The firm generally commits €200,000-7m in growth capital investments.

Company
Founded in 1991, Weiss IT assists companies with the design, rollout and service of software and hardware for workplace IT networks, including printers, computers, video conferencing services and servers. Its client base includes companies in the chemicals, retail, financial services and automotive sectors.

Founded in 1991, the company has 320 employees and is based in Warngau, Bavaria, with offices in 30 locations across Germany.

People
BayBG – Justus Schmidtke (senior investment manager).
Weiss IT Solutions – Alexander Friedl (CEO).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Bayerische Beteiligungsgesellschaft mbH (BayBG)