3i-backed Evernex bolts on Vitruvian's Technogroup

3i will deploy €47m in additional capital to finance this transaction, with Evernex's management team reinvesting €2m, while Technogroup's management and its shareholder Vitruvian will roll over a significant investment into the combined group.

With this add-on, 3i expects to boost Evernex's expansion in the DACH region.

3i acquired a substantial majority stake in Evernex from Carlyle in July 2019 in a deal that valued the company at more than €400m. This is the second add-on made by the company since then, following its investment in Storex, a South African provider of maintenance services for critical data centre equipment, acquired in March 2020.

Paris-headquartered Evernex offers maintenance services covering data centre hardware and critical IT assets. It maintains 200,000 IT systems in 160 countries and has a global network of 34 offices. The company employs 520 staff and generates revenues of around $220m.

Vitruvian acquired Technogroup from Caldec Holding and the company's founding shareholders in December 2017. The firm used its €2.4bn Vitruvian Investment Partnership III fund, a vehicle that typically writes equity cheques of €25-200m in companies with enterprise values of €50-500m.

Under Vitruvian's ownership, Technogroup has increased its size through a mix of organic growth and acquisitions, expanding its geographical presence and completing three bolt-ons.

Company
Established in 1990 and headquartered in Hochheim, near Frankfurt, Technogroup is a provider of third-party maintenance services for data centre infrastructure in the DACH region and Poland.

The company serves 5,200 customers and employs 290 staff in 50 centres located across Germany, Austria, Switzerland and Poland.

People
3i France – Rémi Carnimolla (partner).
Vitruvian Partners – Torsten Winkler, Fabian Wasmus (partners).
Evernex – Stanislas Pilot (president, CEO).
Technogroup – Klaus Stöckert (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• France
• Technology
• Exits
• 3i
• Vitruvian Partners
• Germany
• France
• Build-up
• Buy-and-build
• Partial sale