Press release HORN & COSIFAN and PK Office establish growth platform for managed IT services for SMEs together with Harald Quandt Industriebeteiligungen as majority shareholder and Cadence Growth Capital - HORN & COSIFAN and PK Office will be part of a newly formed group with participation of Harald Quandt Industriebeteiligungen and Cadence Growth Capital - Combination creates a platform for managed IT services and IT infrastructure for the digital workplace - Both companies will remain independent, but will cooperate closely in the future, both strategically and operationally - Harald Quandt Industriebeteiligungen will support the implementation of a dedicated buy-and-build strategy through the Harald Quandt network and together with Cadence Growth Capital through additional funds Frankfurt am Main / Moenchengladbach / Bad Homburg / Munich, January 26, 2021. HORN & COSIFAN Computersysteme GmbH ("HORN & COSIFAN") and PK Office GmbH ("PK Office") join forces backed by Harald Quandt Industriebeteiligungen GmbH ("HQIB") as majority shareholder and Cadence Growth Capital GmbH ("CGC"). The combined company creates a growth platform for all areas of managed IT services for the digital workplace. Alongside the founders and owners of HORN & COSIFAN and PK Office the evergreen investor HQIB holds a majority stake and the technology investor CGC supports as further shareholder. All parties contribute their expertise to a joint platform in order to benefit from the growing market in the sector of IT infrastructure and digital workplace, particularly in the segment of small and medium-sized businesses. The group was formed in January 2021. Against the background of the accelerating digitization, small and medium-sized businesses are facing increasing complexity and the need to modernize their IT infrastructure. HORN & COSIFAN and PK Office complement each other in terms of their technological expertise, product range and geographic presence. Therefore, the new group is positioned as a leading transregional full-service provider and strategic partner for custom-tailored and complex IT solutions. It will focus on managed IT and managed print services, as well as cloud and IT security. In particular, customers will benefit from the complementary solution portfolio of both companies, which allows customers to concentrate on their core business and the successful implementation of their digital transformation. HORN & COSIFAN and PK Office will operate jointly in the market. Their brands and locations will remain independent and the management teams will stay in place. The combination creates a group with around 180 employees located in Moenchengladbach and Frankfurt am Main, perfectly complementing each other in terms of regional coverage. HQIB will support the further development through the Harald Quandt network and together with CGC in the long run. Acquisitions are a crucial part of the growth strategy. Gunter Horn, founder and managing director of HORN & COSIFAN, explains: "The combination will enable us to reach new client groups and market regions. As a full-service provider for the digital workplace, we can position ourselves even better. In addition, with the strategic expertise, financial resources, and network of the Harald Quandt family, we see ourselves in an excellent position to successfully pursue the next growth steps." "The partnership with HORN & COSIFAN, HQIB and CGC provides a catalyst for the further development of our IT services, which we have successfully established next to our core business of intelligent print and output solutions. We value HORN & COSIFAN as a strong player in the market for managed IT services and cloud solutions. Together, we look forward to providing our customers with additional competencies and expertise as well as a broader range of offerings for the office of the future," says André Nellen, one of the founders and managing directors of PK Office. "The joint platform creates opportunities for future growth, including add-on acquisition opportunities. We are actively seeking IT service suppliers and IT infrastructure providers who intend to join forces with us under the platform," explains Gregor Harald May, Managing Partner of HQIB. "Against this background, we see both conceptual and regional add-ons as interesting opportunities for further expansion. To support the further development in the long term, we will provide access to the experience, the financial resources as well as the network of the Harald Quandt family." Sebastian Eiseler, Managing Director of CGC, adds: "With the establishment of the platform, we are laying the foundation for sustainable growth in the area of managed IT services for the German Mittelstand together with HQIB. HQIB's experience in the Mittelstand and CGC's expertise in technology-driven growth complement each other perfectly." The parties have agreed not to disclose any details about the transaction. About HORN & COSIFAN About PK Office About Harald Quandt Industriebeteiligungen Contacts
End of Media Release Additional features: Issuer: Harald Quandt Industriebeteiligungen Key word(s): Enterprise
26.01.2021 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
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