PE-backed Walter Services buys Perry & Knorr

The acquisition adds to Walter Services' recent takeover of Unitymedia KabelBW's Marburg location. The business will be in charge of 25 facilities employing 10,000 people following the two bolt-ons.

Walter Services is an Ettlingen-based telecommunications service provider. The business has been in private equity hands since 2006 and was last acquired by HIG and Anchorage from Odewald & Compagnie, Gilde Buy Out Partners and Capiton AG in 2011. HIG took a majority stake while Odewald & Compagnie continued to hold a small co-investment after the deal closed.

Company
Perry & Knorr is a business process outsourcing company based in Ettlingen. The company was founded in 2005 – it generates a €35m turnover and employs a team of 1,500 staff working at four locations across Germany.

Perry & Knorr's core activities are centred around customer retention, technical support, order tracking and account management. The business focuses on the telecommunications, media and mail order sectors. Perry & Knorr and Walter Services will be run separately and maintain current operations until the end of 2013.

Advisers
Acquirer – CMS Hasche Sigle, Petra Schaffner, Ralph Drouven, Marcus Wuntke (Legal).

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• Topics
• Portfolio management
• DACH
• Support services
• Germany
• HIG Europe