DBAG acquires Akquinet

The company was sold via a limited process structured by the sellers, a source familiar with the situation told Unquote.

According to a statement, Akquinet’s management board members and the managing directors of its subsidiaries will reinvest a substantial stake in the business.

The GP is deploying equity via DBAG Fund VII which held a final close in July 2016 on EUR 1bn. The fund was 71% deployed as of August 2019, according to Unquote Data; it is now almost 100% deployed, according to the statement from DBAG.

DBAG Fund VII invests in businesses with enterprise values of EUR 75m-250m, investing up to EUR 200m per deal. The fund targets DACH region companies with revenues of EUR 50m-500m and has now made 13 platform investments.

DBAG itself will also deploy up to EUR 5m from its balance sheet for a stake of around 20%, according to the statement. The GP has now made five investments in IT service companies, with two assets (InTech and Freiheit.com) held in DBAG Fund VIII, according to the statement.

DBAG Fund VIII held a final close in May 2020 on EUR 1.1bn. The fund has now made six MBO deals and is around 43% deployed, according to the statement.

DBAG said in the statement that the German IT services market is growing at an above-average rate of around eight per cent per annum, thus outperforming gross domestic product and encouraging customer demand.

DBAG declined to comment.

According to Unquote Data, the DACH region saw 11 computer services buyouts in 2021 with a record aggregate value of EUR 1.5bn. The 11 deals recorded in 2021 did not surpass the record of 13 deals seen in both 2019 and 2020, but the aggregate value in 2021 was bolstered by deals for buy-and-build platforms including Ufenau’s sale of Swiss IT Security to Triton in July 2021. 

Company
Founded in 2002 and headquartered in Hamburg, Akquinet is an IT consulting and data centre management business. Akquinet assists companies with enterprise resource planning (ERP) projects via software including SAP and Microsoft, as well as the development of customised software systems.

Akquinet posted 2021 revenues of EUR 140m and employs 950 staff. The company operates in 24 locations and operates four data centres, according to its website.

People
Deutsche Beteiligungs AG – Tom Alzin (member of the management board).
Akquinet – Thomas Muszal (member of the management board).

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