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Aurelius SE & Co. KGaA
M&A Activity • Jul 7, 2017
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Corporate | 7 July 2017 16:57
AURELIUS: Sale of the Getronics Group completed – Biggest exit in history
DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s): Disposal
07.07.2017 / 16:57
The issuer is solely responsible for the content of this announcement.
AURELIUS: Sale of the Getronics Group completed – Biggest exit in history
– Sales price EUR 220 million, cash multiple on money invested 18.5x
– Positive effect on EBITDA for the combined group of approx. EUR 160 million in third quarter 2017
– Successful repositioning as a respected ICT partner to medium-sized and large enterprises
– Substantial growth under the roof of AURELIUS through organic growth and strategic add-on acquisitions
– Buyer Bottega InvestCo has extensive experience with ICT services
Munich, 7 July 2017 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has successfully completed the sale of its subsidiary Getronics to strategic investor Bottega InvestCo S.à r.l. today. Bottega is backed by its majority shareholder, US/Brazilian entrepreneur Nana Baffour, who operates in the IT services market through Grupo Cimcorp in Brazil as well as prestigious financing partners White Oak Global Advisors, Permira PDM and H.I.G. WhiteHorse. The sales price is EUR 220 million (enterprise value). AURELIUS achieved a cash multiple on money invested of 18.5x. According to provisional calculations, the transaction will presumably have a positive effect on AURELIUS’ 2017 EBITDA for the combined group of approx. EUR 160 million.
Successful repositioning as a respected ICT partner to small and medium-sized enterprises
After acquiring Getronics from Dutch KPN in May 2012, AURELIUS positioned it as reliable partner to medium-sized and large companies providing information and communications technology. It offers the twin advantages of local closeness to customers and global reach. The service portfolio was streamlined, with the focus shifted from conventional workspace services to promising, higher-margin products such as next-generation workspaces, applications and cloud-based services, as well as industry-specific solutions such as airport management and healthcare applications.
The global presence of Getronics was expanded considerably through the reconfiguration of the Global Workspace Alliance (GWA) together with U.S. partner CompuCom. A standardized service offering by all the members of this alliance made it possible to sustainably increase profitability and exploit new growth opportunities.
Substantial growth under the roof of AURELIUS through organic growth and strategic add-on acquisitions
The Getronics Group’s geographical presence and product portfolio were expanded considerably through five add-on acquisitions completed as part of a strategic acquisition program under the roof of the AURELIUS Group. The last new addition to the Getronics family was CMC (Colt Managed Cloud), the cloud business of Colt Group S.A., in April 2016. With the integration of CMC, a Europe-wide leading provider of cloud and hosting services, Getronics expanded its European cloud business considerably. With 4,500 employees, the Getronics Group generates revenues of approx. EUR 500 million in 20 countries on three continents.
“The positive development of the Getronics Group under the roof of AURELIUS is clear proof of our ability to develop once neglected peripheral businesses into highly successful, independent companies through the intensive work of our operational task force in combination with a sustainable expansion strategy,” said Dr. Dirk Markus, Chairman of the Executive Board of AURELIUS Equity Opportunities.
Bottega has extensive experience with IT services
Nana Baffour has made numerous investments in ICT companies in the United States and South America. He is being supported in this transaction by prestigious financing partners such as White Oak and Permira. “The Getronics Group is of a significant scale and very well positioned with an innovative solutions portfolio that is aligned with client needs and the impact of technology in changing the world. I am particularly looking forward to working with its more than 4,500 employees across the world. We will build on the excellent work of AURELIUS and systematically continue to align the Getronics Group with the convergence of workspace, applications and the cloud and drive its global growth further. As we move into the next growth phase of Getronics, we will continue to be a great transformation partner for our clients, technology partners and employees,” said Nana Baffour.
William Blair advised AURELIUS on this transaction. Raymond James advised Bottega.
ABOUT AURELIUS
AURELIUS Group is a pan-European asset manager with offices in Munich, London, Stockholm and Madrid. Over the last ten years AURELIUS has grown from a local turnaround investor to an international multi-asset manager investing in a wide range of sectors and across the capital structure.
AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8, Ticker Symbol: AR4) represents the listed entity within the AURELIUS Group that focusses on investing in Special Situations and MidMarket transaction opportunities. AURELIUS Equity Opportunities currently has 21 portfolio companies located across Europe which employ around 20,500 people and generate annual revenues of more than EUR 4.0 billion. The shares of AURELIUS Equity Opportunities are traded on all German stock exchanges with a market capitalization of c. EUR 1.5 billion as of July 2017.
With its group charity AURELIUS Refugee Initiative, AURELIUS provides comprehensive support for refugees on their way towards a better life.
To find out more, visit www.aureliusinvest.com
CONTACT
AURELIUS Group
Anke Banaschewski
Investor Relations & Corporate Communications
Phone: +49 (89) 544799-0
Fax: +49 (89) 544799-55
E-Mail: [email protected]
07.07.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | AURELIUS Equity Opportunities SE & Co. KGaA |
| Ludwig-Ganghofer-Straße 6 | |
| 82031 Grünwald | |
| Germany | |
| Phone: | +49 (0)89 544 799-0 |
| Fax: | +49 (0)89 544 799-55 |
| E-mail: | [email protected] |
| Internet: | www.aureliusinvest.de |
| ISIN: | DE000A0JK2A8 |
| WKN: | A0JK2A |
| Listed: | Regulated Unofficial Market in Berlin, Munich, Stuttgart, Tradegate Exchange; Open Market in Frankfurt |
| End of News | DGAP News Service |