Vitruvian Partners has picked up German business Technogroup IT-Service.
Founded in 1990, Technogroup offers insurance-like technology maintenance services and other value-add services for IT systems in data centres. It serves over 4,000 customers across the DACH region. Technogroup has 240 employees across 25 offices and 12 logistic centres.
With Vitruvian’s investment, Technogroup will look to scale its existing business and grow its international footprint.
Vitruvian acquired Technogroup from the company’s founding shareholders and German private equity firm Caldec Holding, which exits the business after four years. The company’s founder, Claus Fischer, will retain a stake in the business.
Kirkland & Ellis, KNPZ Rechtsanwälte, Maat Rechtsanwälte, Walder Wyss Rechtsanwälte and Dorda Rechtsanwälte all advised Vitruvian on the transaction.
Technogroup is the third investment by Vitruvian this month. The pan-European private equity firm backed Swedish smartphone app EasyPark Group and acquired a minority stake in Romanian cyber security business Bitdefender.