GCA Altium advises X1F on its refinancing
Headquartered in Munich, Germany, and founded in 2021 out of a merger of IKOR, a Hamburg-based specialised IT consulting provider, and matrix technology AG, a Munich-based IT consulting and managed service provider, as well as Informationsfabrik, a Münster-based specialised provider of data platforms, analytics and artificial intelligence, X1F is a leading full-service IT provider in regulated and complex customer segments, such as insurance, banking and the public sector.
After completing two more add-ons in 2021, X1F now employs 720 employees across 26 locations in ten countries in Europe, North America and Australia, and services around 285 customers globally.
GCA Altium provided debt advice on all commercial aspects of the financing transaction and supported X1F on a tailored debt refinancing, in combination with growth financing. Backed by Ufenau Capital, X1F is following a dedicated buy-and-build strategy with the aim to further strengthen its position as a full-service IT provider. Therefore, a well-balanced structure provided by a debt fund has been secured that caters for the required flexibility in respect to future add-ons.
Norbert Schmitz, Managing Director at GCA Altium, commented: “Based on Ufenau Capital’s superior sector knowledge and strong track record as a buy-&-build investor together with the company’s ability to acquire and integrate suitable add-ons, we are highly confident that in combination with the attractive financing package, X1F is ideally set up for its future M&A strategy.”
The transaction closed on 29 November 2021.