ox8 Corporate Finance exclusively advised Gunter Horn, founder and owner of the leading Frankfurt-based IT infrastructure and Managed Services provider HORN & COSIFAN Computersysteme GmbH („HORN & COSIFAN“) on the sale to evergreen investor Harald Quandt Industriebeteiligungen („HQIB“) and technology investor Cadence Growth Capital („CGC“).
In combination with another IT company acquired by HQIB and CGC (PK Office GmbH), the transaction creates a strong growth platform for managed IT services in the SME sector. The new entity will be further expanded as part of a dedicated buy-and-build strategy. The group employs around 180 people at its locations in Frankfurt am Main and Moenchengladbach, which ideally complement each other in terms of regional coverage. As part of the transaction, Gunter Horn is re-investing in the new group and will continue to act as Managing Director. HQIB is the majority owner of the new platform.
For Gunter Horn, the search for a strong partnership was the logical strategic step in a consolidating market environment: “It was my goal to find the ideal partner for my company that I have successfully built up together with my employees over the past 27 years. The ox8 team supported me perfectly in all aspects of this project and led it to the desired success. As the sole shareholder, who in parallel had to concentrate on the operative business, it was important for me to have an experienced adviser by my side”, says Gunter Horn.
He further comments: “ox8 professionally organized and executed the entire M&A process in a goal-oriented manner: from the consistent preparation of data and the presentation of the equity story, via the discreet market approach as well as the organization of due diligence, to deal negotiations. At the same time, it was important for me to be able to have access to my advisor at all times. I was deeply impressed by ox8′ strong network to all relevant potential buyers and the team absolutely exceeded all expectations I had prior to the start of the process!”
Gunter Horn is convinced of the success of the new platform: “The combination will enable us to reach new client groups and market regions. As a full-service provider for the digital workplace, we can position ourselves even better. In addition, with the strategic expertise, financial resources, and network of the Harald Quandt family, we see ourselves in an excellent position to successfully pursue the next growth steps”.
About HORN & COSIFAN (www.horn-cosifan.de)
HORN & COSIFAN Computersysteme GmbH was founded in 1993 by Managing Director Dipl.-Inform. Gunter Horn and in almost thirty years has developed into one of the leading IT system houses in the Rhine-Main area. The many years of experience and excellent expertise of the team with around 80 employees enable the company to be a highly competent and reliable IT partner. Continuously growing, HORN & COSIFAN today serves public clients and medium-sized companies from the financial sector as well as the media, industry, trade, sports, service and transportation sectors. The portfolio includes consulting, conception, implementation and support of the entire IT lifecycle, the operation of advanced as well as highly secure data centers in Frankfurt am Main and furthermore the comprehensive support of the customers’ mobile corporate communication. As a strategic partner of leading manufacturers, HORN & COSIFAN focuses on topics such as virtualization, high availability, managed and cloud services, and especially IT security. The great trust of customers in the expertise of the system house is reflected in long-standing business relationships.
About Harald Quandt Industriebeteiligungen (www.hq-ib.com)
Harald Quandt Industriebeteiligungen GmbH is the principal investment firm of the family Harald Quandt joined by a small, select number of (industrial) families and partners. HQIB invests in small and medium sized companies within the German-speaking region, that are leading in established and technologically sophisticated market niches with attractive growth potential. As an industrial holding company, HQIB pursues a long-term, sustainable investment approach and is not subject to any time restrictions or limited investment periods.
About Cadence Growth Capital (www.cadencegrowthcapital.com)
Cadence Growth Capital GmbH is an investor focused on technology and growth investments in the German-speaking market. CGC invests in technology-driven business models that benefit from long-term trends and achieve above-average growth rates. CGC contributes not only capital, but also experience in scaling through organic and inorganic growth, as well as its extensive network of entrepreneurs, founders and partners. CGC invests the capital of over 60 HNWIs from the private equity, founders, M&A and corporate community as well as various institutional investors.
About ox8 Corporate Finance (www.ox8-cf.com)
ox8 Corporate Finance is an independent corporate finance boutique founded in 2018 by experienced M&A specialists. Corporate finance advisory services are offered with a focus on M&A as well as Growth Capital in the Software/ Saas, Digital Commerce, Technology/ IT services and Healthcare sectors. The team has an excellent international network to financial investors and strategic buyers. ox8 Corporate Finance has offices in Frankfurt am Main and Aschaffenburg.