Hg invests in F24

Hg's investment in F24 will be made from the Mercury 2 fund. The fund closed on £575m in February 2017 and was 66% deployed as of February 2020. It targets companies with enterprise values of £100-500m.

Hg will invest in a stake currently owned by Armira and co-founder Ralf Meister, and will become the majority shareholder in the business. The executive board, consisting of Jörg Rahmer, Christian Götz and Jochen Schütte, will remain significantly invested in the business, alongside Hg.

F24 partnered with Armira in 2017; the latter has now exited the business. Following the transaction, the co-founder and chairman of the supervisory board, Ralf Meister, will also be leaving the company.

The investment will go towards a buy-and-build strategy.

Company
F24 is a pan-European provider of emergency notification, crisis and incident management and critical communications, headquartered in Munich, Germany. Founded in 2000, F24 employs 170 employees at 12 locations.

People
Hg – Nick Jordan (partner); Benedikt Joeris (director).

Advisers
Equity – Latham & Watkins (legal); Deloitte (financial due diligence); EY (financial due diligence); McKinsey (commercial due diligence); PwC (financial due diligence); Codex (commercial due diligence); GCA Altium (corporate finance).
Vendor – Raymond James (M&A); Gleiss Lutz (legal); Taxess (tax).

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

• Topics
• Buyouts
• DACH
• Technology
• Germany
• HgCapital
• PwC
• Deloitte
• EY (Ernst & Young)
• Latham & Watkins
• GCA Altium