This deal represents Raymond James’ seventh successful transaction in the European Technology & Services space year to date.
THE DEAL
• Utimaco is a leading global provider of specialist professional Cyber Security and Compliance Solutions with a track-record of double digit top-line growth
• Raymond James acted as exclusive financial advisor for PINOVA Capital, BIP Investment Partners and the Management
• PINOVA Capital and BIP Investment Partners will remain minority investors together with the Management
• The acquisition is subject to regulatory approvals
DEAL RATIONALE
• EQT will add value through its network and expertise to capture future organic and acquisitive growth opportunities
• Expand Utimaco’s leadership in Cyber Security Solutions by driving the international rollout
• Sellers to re-invest significant parts of their proceeds alongside EQT
DEAL BACKGROUND
• Utimaco as world market leader benefits from: increasing volume/complexity of data traffic, growing number of security threats, stricter security regulations and the trend towards a digitalized economy e.g. Internet of Things, Smart Grids, Connected Cars and eID
• Continued strong interest from Private Equity due to attractive industry characteristics
o Double-digit growth
o High and stable margins
o Strong cash conversion
RAYMOND JAMES TECHNOLOGY & SERVICES INVESTMENT BANKING
• Raymond James is a leading global Technology & Services M&A advisor
• In 2016, we have closed more than 40 Technology & Services transactions
• More than 50 Technology & Services bankers across offices in the US and Europe
• Deep sector expertise in Cyber Security Solutions
About Utimaco
Utimaco is a leading global provider of specialist professional cyber security and compliance solutions, offering hardware-based, high-security appliances (hardware security modules) and compliance solutions for telecommunication provider regulations (lawful interception and data retention). The Company is headquartered in Aachen, Germany, and has around 170 employees worldwide.
About PINOVA
PINOVA Capital is an independent investment firm focusing on equity capital investments in innovative mid-market companies with strong growth. Target companies should be headquartered in German-speaking countries, with revenues between €10million and €75million and capital requirements between €5million and €25million.
About BIP
BIP Investment Partners S.A. is an independent financial holding company located in Luxembourg that manages an investment portfolio with a net worth of around €250 million. BIP invests in privately held middle-market companies with clear growth prospects, especially in Germany, the Benelux countries, France, Austria and Switzerland. BIP has profound experience and a solid track record to support the growth and scale-up of businesses in a diversified range of industries, by providing both expertise and the financial resources including funding for add-on acquisitions.
About Raymond James European Advisory
Our European Advisory team has successfully advised companies and entrepreneurs on cross-border transactions for more than 25 years. Advising during all phases of a transaction, we help from setting strategic and financial goals through to transaction closings. We exclusively represent the interests of our clients with focused efforts in M&A, financing, restructuring and secondaries – optimizing transaction terms and customizing financial instruments to reflect our clients’ strategic and financial needs.
About Raymond James Technology & Services Investment Banking
The Technology & Services Investment Banking team at Raymond James is a committed and thoughtful partner to its clients, with a thorough understanding of the nuances of this competitive industry. Our network of relationships in the strategic and private equity community, along with our comprehensive investment banking and venture investing expertise, allows us to deliver high-impact, independent solutions to clients domestically and abroad. Putting the client first, adapting to high-velocity change and staying actively involved in each transaction are practices that put our senior banking personnel among the best in the business.
About Raymond James Investment Banking
Raymond James offers one of the most highly regarded equity offering and advisory practices today. Since 2009, we have participated in raising $600 billion in capital for our corporate clients. During this same time, we’ve completed more than 450 advisory assignments, including nearly 400 M&A buy-side or sell-side advisory assignments. Raymond James was also recently named “Investment Banking Firm of the Year” by The M&A Advisor and “USA Middle Market M&A Investment Bank of the Year” by Global M&A Network. Put the expertise, quality and experience of Raymond James to work for you.