SGT Capital is pleased to announce that it has reached a definitive agreement to acquire Elatec GmbH (“Elatec” or the “Company”) from growth equity investor Summit Partners. SGT Capital is a global private equity firm that invests in mid-sized, market leading companies and supports existing management teams in realizing their ambitions for accelerated international expansion.
Headquartered in Germany, Elatec is the leading international developer and supplier of a range of secure physical and digital access solutions. The Company provides contactless (RFID/BLE/NFC) reader hardware for user identification and a cloud based IoT platform with SaaS device management solutions globally. Elatec has more than 150 employees around the globe and supports 60+ RFID card type technologies plus BLE and NFC, while its products are certified in 110 countries and enable end-to-end encryption.
Joseph Pacini, Co-Managing Partner of SGT Capital, said: “Elatec is a market leader in secure physical and digital access solutions globally and combines a strong IoT platform with SaaS device management and mobile authentication technology solutions that are essential for the structural global growth of increasing interconnectivity and the need for increased physical and cyber security. We look forward to working with CEO Robert Helgerth and the entire Elatec team at this exciting time for their business.”
Robert Helgerth, CEO of Elatec, said: “We are moving at a fast pace into Elatec’s next phase of growth with our primary focus on continued technical innovation plus international expansion. SGT Capital’s ownership and support is key to sustaining our performance and momentum.”
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Carsten Geyer, Co-Managing Partner of SGT Capital, said: “Elatec is well positioned to drive continued growth and innovation for Electric Vehicle Mobility, Smart Business, Smart Office and Smart City expansion. The Elatec transaction demonstrates SGT Capital’s unique capability to identify and invest in market leading businesses and management teams and enhance their value through continued innovation and global growth initiatives.”
Gerhard Burits, CFO of Elatec, said: “Elatec is poised for significant future growth given our innovation as well as the structural growth in our existing markets and we are grateful to our clients, colleagues and partners for their support and commitment.”
Dr. Matthias Allgaier and Steffan Peyer, Managing Directors at Summit Partners and Board Directors at Elatec, added: “Over the course of the last five years, Elatec has generated strong growth, expanded its global footprint and served customers across increasingly diverse end markets. We are grateful to Robert Helgerth, Gerhard Burits, Stefan Haertel and the entire Elatec team for their partnership, dedication, vision and execution.”
The transaction is valued at approximately EUR 400 million and is subject to customary regulatory approvals.
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