SGT Capital takes majority stake in Utimaco from EQT Mid Market Investment Strategy (“EQT Mid Market”), PINOVA Capital, BIP Investment Partners and Management (“Sellers”)
EQT Mid Market remains minority investor
Aachen, Germany and Campbell (CA), June 2, 2022 – Utimaco, a leading global provider of IT security solutions, has successfully closed the investment round with its new owner SGT Capital. In a deal first announced in August 2021, SGT Capital’s ownership of Utimaco has since received all necessary regulatory approvals, including clearance from the Committee on Foreign Investment in the United States (CFIUS), the United Kingdom’s Department for Business, Energy & Industrial Strategy, and Germany’s Federal Ministry for Economic Affairs and Climate Protection. The investment will be used to further accelerate the growth of Utimaco worldwide with a particular focus on expanding its footprint in the APAC region.
Over the past four years, Utimaco has shown a consistent 34% YOY growth to a revenue surpassing 100 million Euro in the last fiscal year that ended on March 31, 2022. This impressive growth was achieved in large part by a successful expansion of Utimaco’s position in its key markets of hardware security modules (HSMs) and compliance solutions for telecommunication provider regulations (LIMS), and also by a series of strategic acquisitions to strengthen its solution portfolio and regional presence, especially in the Americas (acquisition of Atalla in 2018, Geobridge and MYHSM in 2020, exceet Secure Solutions and Realsec in 2021 as well as Celltick in April 2022). The new investment will continue to provide the support needed to further enhance the company’s progress through organic and inorganic growth opportunities.
Joseph Pacini, Co-Managing Partner of SGT Capital, said: “With an increasingly connected world comes the continued increase of cybersecurity risks. As a market leader, Utimaco is best poised to address these risks and protect its clients as it further accelerates its global growth. There are excellent global growth opportunities for Utimaco, and we are excited to collaborate with CEO Stefan Auerbach and the entire Utimaco team, as well as EQT Private Equity, Bain Capital Credit and the Utimaco Advisory Board to achieve Utimaco’s growth potential.”
Stefan Auerbach, CEO of Utimaco, said: “We are moving at pace into Utimaco’s next phase of growth, and SGT Capital’s ownership and support is key to sustaining our performance and momentum. Technical innovation and international growth remain keys to our success, and we are grateful to our clients, colleagues and partners for their support and commitment.”
Carsten Geyer, Co-Managing Partner of SGT Capital, said: “As a market-leading business that comprises talented employees around the world, Utimaco is poised for enduring success, as its technology helps make the digitization of business and society more secure. The Utimaco transaction demonstrates SGT Capital’s unique capability to identify and invest in market leading businesses and enhance their value through global growth initiatives.”
SGT Capital has agreed to acquire a majority stake from EQT Mid Market, PINOVA Capital, BIP Investment Partners and Management. EQT Mid Market and Management will remain minority investors. The parties have agreed not to disclose the transaction value.
UTIMACO is a global platform provider of trusted Cybersecurity and Compliance solutions and services with headquarters in Aachen (Germany) and Campbell, CA (USA). UTIMACO develops on-premises and cloud-based hardware security modules, solutions for key management, data protection and identity management as well as data intelligence solutions for regulated critical infrastructures and Public Warning Systems. UTIMACO is one of the world's leading manufacturers in its key market segments.
500+ employees around the globe create innovative solutions and services to protect data, identities and communication networks with responsibility for global customers and citizens. Customers and partners in many different industries value the reliability and long-term investment security of UTIMACO’s high-security products and solutions.
SGT Capital Group is a global alternative investments firm with offices in Germany and Singapore that seeks superior returns by driving the internationalisation of mid-market businesses in combination with more traditional private equity value creation strategies. SGT Capital is led by Carsten Geyer, Joseph Pacini, Christoph Gerlinger, Dr Marcel Normann, Marianne Rajic and Jens Dino Steinborn. The principals of SGT Capital are seasoned professionals from market leading private equity, asset management, investment banking, and consulting firms, bringing over 100 years of investment experience and experience in managing more than US$40 billion to our investors. Together, they have an outstanding track record globally, most of them having jointly worked on major transactions in key jurisdictions in the last five years.
More info: www.sgt-capital.com
+49 241 1696-150
For SGT Capital:
Tristan Peniston-Bird, London
Florian Bamberg, Frankfurt
Lauren Katz, New York