HQ Equita has acquired a majority stake in Indevis, a managed security services provider (MSSP) in Germany. HQ Equita is the mid-cap buyout firm of HQ Capital. Financial terms of the deal were not disclosed.
The Indevis acquisition is M&A deal number 502 that MSSP Alert and ChannelE2E have covered thus far in 2021.
Indevis has 56 employees listed on LinkedIn and employs 80 people overall, the buyer says. Founders Wolfgang Kurz and Andreas Mayer will remain in their current roles as managing directors following the acquisition.
Indevis extends HQE's reach in the IT sector, the buyer said. It is the second investment in the IT sector by HQE Fund V, which invests in midsized companies primarily in German-speaking countries.
Indevis Managed Security Services Portfolio
Indevis offers such multi-cloud and on-premises managed security services as:
- Email security
- Managed firewall
- Secure access
In addition, Indevis provides IT security, data center and network solutions and professional consulting, management and support services. The company supports organizations across healthcare, financial services, and other industries in the German-speaking region of Europe and has been expanding its managed security service business with double-digit growth rates for several years, the MSSP said.
HQ Equita Acquires MSSP: Executive Perspectives
In a prepared statement about the deal, HQ Equita Partner Florian Wiemken said:
"IT security will remain one of the global megatrends in the future, gaining further momentum in Europe due to the demand for continental European solutions. In a digitalised world, IT security is a key component that every company needs and can rarely fully provide itself.
Added Kurt Weise, senior investment manager at HQ Equita:
"Indevis already has significant managed service revenues, long-standing customer relationships and certified process structures, which are reflected in the high SLA loyalty and customer satisfaction. We believe indevis is ideally positioned to benefit disproportionately from managed security service growth and look forward to expanding the business through suitable acquisitions in the coming years."
Also, HQE will continue to expand its IT security business via future acquisitions, Weise noted. HQE previously acquired a majority stake of Ebertlang Distribution, a value-added software distributor for data protection and infrastructure software, in March 2019.