With 890 employees and revenues of more than €115 million ($136.55 million), DGS supports customers in the design, integration and maintenance of IT systems with a specialization in digital transformation and cybersecurity services.
H.I.G. has previous experience in the IT industry, with more than 30 transactions completed globally, and intends to support DGS in the next phase of development, with the aim of capitalizing on both organic and inorganic growth opportunities.
Vincenzo Fiengo and Salvatore Frosina, founders, co-CEOs, and current shareholders of DGS, will reinvest alongside H.I.G. and will continue to lead the company.
“The investment by H.I.G., a global private equity firm, is a recognition of the impressive growth potential of DGS, given its leading position in the market and its exposure to fast-growing segments such as digital transformation and cybersecurity,” Fiengo and Frosina said in a joint statement. “Backed by H.I.G., we believe the company will be able to develop more quickly, pursuing a combination of organic initiatives and targeted acquisitions.”
“DGS brings a strong competitive positioning in Italy, as evidenced by its above market growth and an impressive track-record with its blue-chip customer base and advanced technical capabilities,” Raffaele Legnani, managing director and head of H.I.G.’s office in Italy, said.