May 10, 2021
Acquisition financing, M&A
GCA Altium advises Equistone on an acquisition financing for TIMETOACT GROUP
GCA Altium has advised Equistone Partners Europe on an acquisition financing for TIMETOACT GROUP, a leading IT consultancy and services provider for medium-sized businesses, large corporations and public sector institutions.
Based in Cologne, Germany, TIMETOACT GROUP operates nine specialist brands in 16 locations across Germany, Austria and Switzerland. They offer their clients a comprehensive range of IT service solutions for the digital workplace, process automation & optimisation, business intelligence, identity & access management, and customer experience. The group’s clients primarily include medium-sized businesses, large corporations in the industrial, financial and service sectors, and public sector institutions. The group employs approximately 700 people and recorded revenues of around EUR 120 million in 2020, representing an increase of more than 17% on the previous year.
GCA Altium advised Equistone on tailor-made debt financing, as well as on all commercial aspects of the transaction financing too. By bringing Equistone on board, TIMETOACT GROUP shareholders Felix Binsack and Hermann Ballé have brought in a partner who will continue to support the company’s already successful buy-and-build strategy with know-how and capital. The two will continue to lead the company as managing directors and retain a significant stake in the business, and Frank Fuchs will join the management team as CFO.
Commenting on the transaction, Leander Heyken, Partner at Equistone, said: “The acquisition of TIMETOACT GROUP adds a leading digitalisation expert with a broad range of specialised IT services to our portfolio, in a market that is characterised by strong and steady growth. At the same time, this acquisition also reflects an increased focus on technology companies – a sector with exciting business models, excellent growth prospects, and founders we can support in their business goals.”
Thorsten Weber, Managing Director at GCA Altium, added: “We are convinced that Equistone is the ideal partner for TIMETOACT GROUP and together with the management team they will lead the group into its next growth phase. The financing structure, based on a comprehensive selection process involving several financing options, is a perfect fit and will support TIMETOACT GROUP’s already successful buy-and-build strategy too.”
The transaction was signed in May 2021 and remains subject to approval from the relevant competition authorities.