Frankfurt am Main, 14.12.2023
GÖRG Partnerschaft von Rechtsanwälten mbB, led by partner Dr. Tobias Fenck, advised the pan-European investment company Fremman Capital on the acquisition of connexta. connexta is an IT platform focused on buy-and-build for medium-sized customers throughout Germany. The team behind the platform has strong expertise in IT infrastructure ("core IT"), cloud solutions and cybersecurity through the current majority shareholder AURELIUS Wachstumskapital. The management and the sellers will remain as significant minority shareholders alongside Fremman Capital.
connexta, headquartered in Munich, was initiated by AURELIUS in 2019 with the acquisition of ID.KOM and has since focused on a targeted buy-and-build strategy. With nine completed acquisitions since 2019, the IT specialists now have a reputation in the industry as an acquirer of choice.
Led by an experienced management team, the company has an impressive track record of organic and inorganic growth. In recent years, connexta has proven its ability to attract both regionally focused and specialized IT service providers to the platform. With a regional network of twelve locations across Germany, connexta has established a unique go-to-market approach that offers end-to-end IT services to mid-market clients.
The IT services sector is a large and growing market, driven by sustainable trends such as the increasing demand for cyber security, the outsourcing of IT services and the shift towards managed services. The focus on small and medium-sized customers combined with strong performance in all phases of digital transformation provides connexta with a clear path to further growth. In addition, connexta's extensive expertise in business-critical segments such as cloud and cybersecurity positions it to consolidate the highly fragmented market.
connexta as an ideal addition to the investment strategy
connexta is Fremman Capital's seventh platform investment and was signed just a few months after announcing the final closing of its first fund with €1.2 billion in assets under management (AUM) and its first platform exit (Palex2 Medical). Since its inception, the company has completed six platform investments: Bollo Natural Fruit (Spain), VPS (Netherlands), Medinet (United Kingdom), Palex Medical (Spain), Kids Planet (United Kingdom), HT Médica (Spain) and more than 50 additional investments.
TCG (mergers and acquisitions), KPMG (finance, tax), Ommax (commercial) and Ego Humrich Wyen (legal) acted as advisors to the sellers, while Carlsquare (mergers and acquisitions, debt advisory), Telescope (commercial), PwC (finance, tax), GÖRG (legal), Howden (insurance and W&I) and GOF (debt advisory) advised Fremman Capital on the transaction.
Advisors
GÖRG Partnerschaft von Rechtsanwälten mbB
Dr. Tobias Fenck (Lead, Partner, M&A / Corporate, Frankfurt am Main)
Dr. Andrea Zimmermann (Partner, M&A / Corporate, Cologne)
Dr. Lars Weber (Partner, M&A / Corporate, Frankfurt am Main)
Dr. Christian Bürger (Partner, Antitrust Law, Cologne)
Dr. Kerstin Goeck (Associated Partner, M&A / Corporate, Cologne)
Dr. Florian Schmitz (Partner, IP / IT Commercial, Frankfurt am Main)
Dr. Dirk Freihube (Partner, Labour and Employment Law, Frankfurt am Main)
Katharina Meeser (Associated Partner, Real Estate Law, Cologne)
Florian Mayer (Associate, M&A / Corporate, Frankfurt am Main)
Larissa Jährig (Associate, M&A / Corporate, Frankfurt am Main)
Dr. Valentin Zipfel (Associate, IP / IT Commercial, Frankfurt am Main)
Florian Seidl (Associate, Labour and Employment Law, Frankfurt am Main)
Metehan Uzuncakmak (Associate, Antitrust Law, Cologne)
Julia Restani, LL.M. (Associate, Financing, Frankfurt am Main)
About Fremman Capital
Fremman Capital is a pan-European mid-market investment firm with offices in London, Luxembourg, Madrid, Munich and Paris that partners with successful management teams to transform companies from local champions into multinational, sustainable market leaders. The senior partners have been working together for a long time and have more than 100 years of combined investment experience. Fremman Capital's mission is to build better and more sustainable businesses that have a positive impact on society.
About connexta
connexta is an IT platform focused on buy-and-build for medium-sized customers throughout Germany and has strong expertise in the areas of IT infrastructure, cloud solutions and cybersecurity.
Headquartered in Munich, connexta was initiated by AURELIUS in 2019 with the acquisition of ID.KOM and has since focused on a targeted buy-and-build strategy. Since 2019, nine further acquisitions have been completed and connexta has made a name for itself in the industry as a preferred acquirer.
