Deutsche Beteiligungs AG invests in akquinet AG

• IT services company offering a broad range of services
• Fifth investment in IT services and software
• Well positioned in a growing market

Frankfurt/Main, 21 March 2022. Deutsche Beteiligungs AG (DBAG) invests in akquinet AG (akquinet), a German provider of comprehensive IT services. In a management buyout (MBO), DBAG Fund VII (advised by DBAG) will acquire 100% of the shares, which are held by around 70 shareholders including the two company founders and akquinet employees. DBAG itself will invest up to approximately five million euros alongside the Fund, which means that it will hold a stake of around 20 per cent. Closing of the purchase agreement, which is subject to approval by the antitrust authorities; is expected in the second quarter. The parties have agreed not to disclose the terms of the sale. As part of the MBO, akquinet’s Management Board members and managing directors of subsidiaries will (re-)invest a substantial stake.

DBAG Fund VII has been investing in mid-sized companies since 2016; akquinet is the Fund's twelfth investment. With this MBO, the Fund will be almost 100 per cent invested. The successor fund, DBAG Fund VIII, has been investing since August 2020: with funds of around 1.1 billion euros, it also invests in mid-sized companies, primarily in Germany, but also in other European countries. The Fund has structured six MBOs to date and is around 43 per cent drawn down. akquinet is the fifth investment in an IT services and software company after freiheit.com and in-tech, which are part of the DBAG Fund VIII portfolio.

Hamburg-based akquinet (www.akquinet.com) was founded in 2002 and has since developed into a group offering a broad portfolio of IT services through a combination of organic growth and company acquisitions. The company specialises in the implementation of ERP systems (SAP and Microsoft) and the customised development of software solutions. akquinet can draw on many years of experience, especially in the health and social welfare sectors, as well as in mechanical and plant engineering, the public sector, and logistics. In addition, the company also provides IT systems outsourcing to businesses of all sizes, in its high-performance data centres. akquinet ensures that the appropriate interfaces are in place, and that the highest levels of security are maintained. For mid-sized companies, installation, operation and maintenance of IT systems are offered, in addition to infrastructure. akquinet can therefore provide its customers with an end-to-end solution for virtually all their IT and IT-related needs. A substantial proportion of akquinet’s customers have long-term commitments with the company.

In 2021, the company achieved a turnover of around 140 million euros. akquinet employs 950 people, mainly in Hamburg, but also at 20 other locations in Germany and Austria. The company plans to increase staff numbers at each of its sites. In 2006, akquinet set up a not-for-profit limited company together with Evangelische Stiftung Alsterdorf and since then has employed 36 people with a disability at the company. In 2019, the company received the Hamburg Senate's Inclusion Award for its outstanding commitment.

The market for IT services in Germany is growing at an above-average rate of around eight per cent per annum, thus outperforming gross domestic product. “This leads to strong and stable demand," explains Tom Alzin, member of DBAG’s Board of Management: "The excellent customer loyalty built on long-term contracts also adds to the attractiveness of this investment."

At the signing of the contract, akquinet’s Management Board member Thomas Muszal made the following statement: With DBAG, we are gaining a partner who trusts in our competencies and market experience, supports our existing strategy, and enables further growth.”