Aurelius sells Getronics to Bottega for €220m

Permira, credit provider White Oak Global Advisors and HIG WhiteHorse provided the trade buyer with financing to support the deal.

Under the vendor's tenure, Getronics undertook an acquisitive growth strategy. The company made five bolt-on deals, most recently acquiring cloud and hosting business Colt Managed Cloud from trade vendor Colt Group in April 2016.

Getronics has also refocused its services away from traditional workplace networks to cloud-based and flexible networks, as well as expanding its product range to include airport management and healthcare systems.

The acquirer operates via the Grupo Cimcorp name in Brazil.

The deal is expected to be completed within a matter of days, according to a statement, and is Aurelius's largest ever exit.

Previous funding
Aurelius acquired Getronics from Dutch telecoms company KPN in January 2012 for an undisclosed amount. KPN retained a minority stake in the business following the deal.

Company
Founded in 1988 and headquartered in Reading, Getronics is an IT infrastructure company, providing both office-based and cloud-based networks. It generates revenues of €500m, according to the aforementioned statement, and has a headcount of 4,500 with operations across 20 countries.

People
Aurelius – Dirk Markus (chairperson).

Advisers
Equity – William Blair (corporate finance).
Acquirer – Raymond James (corporate finance).

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