DPE's AWK bolts on Ginkgo Management Consulting

A German competition authority filing dated 22 December 2020 stated that DPE was to acquire a controlling stake in Ginkgo.

DPE acquired a majority stake in AWK in December 2017. At the time, the company had 250 staff. It posted revenues of €45m and EBITDA of almost €11m in 2017. DPE invested via DPE Deutschland III, which held a final close in January 2017 on €575m.

Following the add-on of Ginkgo, the combined entity will report revenues of more than €100m and will employ 500 staff, DPE said in a statement. It reported revenues of €74m prior to its latest bolt-on.

DPE is supporting the merger, according to the same statement.

AWK previously acquired Swiss market peer Talos in September 2020. Unquote sister publication Mergermarket reported in November 2020 that AWK was seeking bolt-on targets with enterprise values of €10-100m, which would be funded by AWK's cashflow and with dry powder from DPE III.

Company
Founded in 2006 and headquartered in Hamburg, Ginkgo offers IT service consulting on topics including digitalisation and cybersecurity. According to its website, its clients include Fortune 500 companies, German corporates and public organisations, such as Deutsche Bahn, Adidas, BMW and Daimler. The company employs 131 staff and has five offices. According to its latest financial statement, the company's revenues increased by 9.3% in 2019 versus 2018.

People
Deutsche Private Equity – Volker Hichert (founder, partner).
AWK – Lars Godzik (CEO).
Ginkgo Management Consulting – Oliver Vaterlaus (CEO).

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