Advent International's GFKL sells GENEVA-ID

The proceeds are undisclosed but it is believed that Advent hasn't realised any of its original investment.

The sale was motivated by GFKL's non-core assets divesting strategy, as it seeks to focus on receivables management.

Company
GENEVA-ID supplies software components for financial services in the insurance sector. It has operations in Hamburg, Düsseldorf and Kevelaer where it employs 150 staff. It has a turnover of slightly less than €20m.

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• Topics
• DACH
• Technology
• Portfolio management
• Advent International
• Partial sale