Castik Capital has acquired two intellectual property management companies.
The firm has bought Munich-based Ipan Group from Warburg Pincus. Castik has also acquired Delegate, a Belgium-headquartered IP software business.
Ipan provides management services and software to IP owners across the world. Operating since 2004 and led by chief executive Jens Lütcke, it has offices in Austria, France, Italy, the Netherlands, Serbia, Sweden, the UK and the US.
Warburg Pincus exits Ipan after a four-year hold. During that time the company has more than tripled revenues and expanded into new geographies. It also acquired software providers Unycom and IPSS, and a minority stake in IPfolio.
Delegate was formed in 2008 by the merger of two IP administrative services providers, Brussels-based Valipat and Glasgow-based Envoy. It now works with more than 700 patent agencies, law firms and corporate in-house IP departments, and also has an office in the US.
The two companies will continue to operate under their own brands and management teams.
“This combination is a game-changer. Ipan Group and Delegate share similar customer-centric and innovative DNAs. Bringing together our talented teams and highly complementary service and software offerings will enable us to address increasing business demands from IP professionals around the world,” said Patrice Durand, chief executive officer of Delegate.
Castik is led by former Apax Partners dealmaker Michael Phillips and has can hold assets for up to ten years. Investing from its €1bn debut fund, it has pursued an extensive buy-and-build strategy with water cooler business Waterlogic and also owns watch components company Acrotec and logistics software provider Alpega.
Castik was advised on the transaction by Marks Baughan Securities, PwC and Skadden, Arps, Slate, Meagher & Flom.