SGT Capital is pleased to announce that the EQT Mid Market Europe fund (“EQT Private Equity”) has agreed to sell Utimaco Verwaltungs GmbH (“Utimaco” or the “Company”) to SGT Capital, a global alternative asset manager with offices in Germany and Singapore.
Headquartered in Aachen, Germany, and Campbell, CA, US, Utimaco is the leading platform provider of trusted cybersecurity and compliance solutions and services. The Company provides on-premises and cloud-based hardware security modules, as well as key management solutions and data intelligence solutions for regulated critical infrastructures. Utimaco has more than 470 employees around the globe and with its focus on protecting data, identities and critical infrastructures against cyber-crime, the Company is a crucial force in contributing to making the world and societies a safer place.
Joseph Pacini, Co-Managing Partner of SGT Capital, said: “Utimaco is the clear market leader in global cybersecurity as well as data intelligence solutions and has executed an impressive innovation, growth and M&A strategy. We look forward to working with Stefan Auerbach and the entire Utimaco team as well as EQT Private Equity and Bain Capital Credit going forwards.”
Florian Funk, Partner within EQT Private Equity’s Advisory Team, said: “Utimaco plays a crucial role in fighting cyber-crime making the world a safer place. We would like to thank all employees for this exciting journey – we are convinced that Utimaco will continue its successful path with its new majority owner and are happy to stay invested as a minority owner.”
Tom Maughan, Head of Private Credit in Europe for Bain Capital Credit, said: “We have been very impressed with the performance of Utimaco over the last few years. Bain Capital is delighted to support SGT Capital in their investment and to continue to work alongside this talented management team led by Stefan Auerbach. ”
Stefan Auerbach, CEO of Utimaco, said: “In the last years, we have built a global platform leader for trusted cybersecurity solutions, providing the highest level of security and compliance to the world’s largest corporates and governments. We look forward to the next phase of growth together with SGT Capital.”
Carsten Geyer, Co-Managing Partner of SGT Capital, said: “Utimaco clearly fits within the SGT Capital business model of investing in market leading business with excellent executives and significant future global growth potential – particularly into high growth regions such as Asia. We look forward to opening up doors of success together with the Utimaco team, EQT Private Equity and Bain Capital Credit.”
The transaction is subject to regulatory conditions and approvals and is expected to close in Q4 2021. The parties have agreed not to disclose the transaction value.
SGT Capital was advised by E&Y (commercial/technology, financial, tax) and Willkie Farr Gallagher (legal). Bain Capital Credit provided the financing for this transaction.