The EQT Mid Market Europe fund (EQT Private Equity) agreed to sell Utimaco Verwaltungs to SGT Capital, a global alternative asset manager with offices in Germany and Singapore. Bain Capital Credit provided the financing for this transaction.
Headquartered in Aachen, Germany, and Campbell, CA, Utimaco is a platform provider of cybersecurity and compliance solutions and services. The company provides on-premise and cloud-based hardware security modules, as well as management solutions and data intelligence solutions for regulated critical infrastructures.
“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,” Joseph Pacini, co-managing partner of SGT Capital, said. “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.”
“Utimaco plays a crucial role in fighting cybercrime, making the world a safer place,” Florian Funk, a partner within EQT Private Equity’s advisory team, said. “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.”
“We have been very impressed with the performance of Utimaco over the last few years,” Tom Maughan, head of private credit in Europe for Bain Capital Credit, said. “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. ”
“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,” Auerbach, who is CEO of Utimaco, said. “We look forward to the next phase of growth together with SGT Capital.”
“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,” Carsten Geyer, co-managing partner of SGT Capital, said. “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 Q4/21. The parties agreed not to disclose the transaction value.
E&Y and Willkie Farr Gallagher advised SGT Capital on this transaction.