Private equity investment firm HIG Capital has agreed to acquire a majority stake in CONET Technologies, an IT consulting, IT systems integration and software development company headquartered in Hennef (Sieg), Germany.
The CONET management team, headed by CEO Anke Höfer, will continue to lead the company.
Founded in 1987, CONET offers a range of services and solutions in software development, SAP consulting, IT infrastructure and IP-based communications. The company is a highly reliable partner to many German and Austrian blue-chip customers in the public and private sectors.
HIG will support CONET’s management team as shareholder and through its advisory board role as the company continues its impressive growth in the core markets in Germany and Austria, expands into other European markets with its proprietary CONET UC Radio Suite – a communications solution for command and control centres – and further strengthens its capabilities in innovative technologies including cyber security, cloud computing and big data.
Holger Kleingarn, managing director at HIG European Capital Partners, says: “With a dedicated focus on the public sector, CONET has demonstrated impressive growth in recent years, leveraging its unrivalled customer relationships and market-leading expertise in a multitude of highly innovative areas. HIG will support CONET through its role in the advisory board in continuing to increase its share in the fast-growing IT services and IT consulting market by both, organic growth and selected acquisitions. HIG is looking forward to the partnership with Ms. Höfer and her team.”
Anke Höfer, CEO of CONET, adds: “On the basis of our strong historical track record, we strive to continue our growth trajectory over the coming years backed by an investor that fully supports our strategy. We are delighted to partner with HIG, an experienced global investor, in implementing this growth strategy. Through the partnership, CONET will benefit not only from the financial resources of HIG, but also from its substantial experience in the IT services and IT consulting sectors, in the development of new markets, and in corporate M&A, including successfully executing buy-and-build strategies.”
The transaction is subject to approval by respective regulatory authorities. The parties have agreed not to disclose further details of the transaction.
