GCA Altium is now part of Houlihan Lokey

Transaction Details

November 25, 2019



Deal Type

Acquisition financing, Debt advisory

Deal Team

Johannes Schmittat, Adrian Nowitzki, Mindaugas Yla

GCA Altium advises Waterland Private Equity on an acquisition financing for netgo

GCA Altium has advised Waterland Private Equity on an acquisition financing to support the creation of a buy-and-build platform in the German IT systems market. Waterland is developing the company in partnership with Benedikt Kisner and Patrick Kruse, founders and shareholders of netgo, one of the fastest growing IT solution providers in the German market. Both founders will retain a significant stake in the company and remain on board as managing directors.

netgo, based in Borken, has grown faster than the market average in recent years, both organically and through the successful acquisition of other IT systems providers. Today the company employs around 350 people across 17 different locations, offering a broad range of consulting, products and services in the areas of hosting and storage, IT infrastructure, IT security, communication and messaging, and IoT and analytics along with customer-specific solutions. Together with its clients, netgo develops bespoke IT strategies from on-premise to private and public cloud solutions. Due to its broad product range the company is a one-stop shop solutions provider for its more than 3,000 clients.

GCA Altium structured a tailored financing package intended to further support business growth with a buy-and-build approach. Dr Carsten Rahlfs, Managing Partner at Waterland Private Equity, explained: “With its experience in acquiring smaller IT systems providers, netgo is in a particularly good position to drive consolidation in Germany’s fragmented IT systems market through a buy-and-build strategy. I am certain that the combined industry expertise of the netgo founders and Waterland’s know-how when it comes to building platforms will have significant advantages in the long run for netgo’s clients, business partners and employees.”

Patrick Kruse, co-founder of netgo, added: “When it comes to acquisitions over the coming years, we will focus on expanding our geographical footprint and portfolio, so we can offer our clients an even broader range of solutions and services.”

Dr Johannes Schmittat, Managing Director at GCA Altium, commented: “We know the requirements of Waterland as a buy-and-build investor very well from previous engagements and believe that once again the right financing structure with the right partner was found.”

The transaction closed on November 18th 2019.

The parties agreed that no details of the transaction would be disclosed.

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