Allgeier Holding sells IT services business to Synova

Munich/London — IT service provi­der Allgeier SE is selling its Mana­ged Services busi­ness with a turno­ver of around EUR 50 million to inves­tor Synova. The company is thus focu­sing more on its core tech­no­lo­gi­cal exper­tise — soft­ware, AI and digi­tal plat­forms. POELLATH advi­sed Allgeier SE on the legal and tax aspects of the sale. 

Munich-based Allgeier Public SE, a subsi­diary of Allgeier SE, has taken a further step in its stra­te­gic realignment. As announ­ced by the company, contracts were signed today with the private equity inves­tor Synova for the sale of Allgeier IT Services GmbH. The closing of the tran­sac­tion is expec­ted to take place in the coming weeks. 

The dive­s­ted busi­ness specia­li­zes in the provi­sion of mana­ged services for medium-sized custo­mers and gene­ra­tes a sales volume of around EUR 50 million. Accor­ding to Allgeier, the valua­tion of the company is in the upper double-digit million euro range. With the sale, Allgeier is parting with a profi­ta­ble divi­sion that is no longer part of the Group’s stra­te­gic core. 

For the Allgeier Group, the tran­sac­tion is a further mile­stone in the ongo­ing focu­sing process follo­wing the sale of the person­nel services busi­ness in 2024.

Allgeier concen­tra­tes on two segments

Follo­wing the sales, Allgeier is left with two Group segments: Enter­prise IT and mgm tech­no­logy part­ners. Over 3,100 employees work in these segments at 48 loca­ti­ons world­wide. In the 2024 finan­cial year, the conti­nuing opera­ti­ons gene­ra­ted reve­nue of EUR 403 million. This is a solid basis, but not outstan­ding growth. 

In future, the company will focus even more stron­gly on its core busi­ness — the design, deve­lo­p­ment and support of complex soft­ware solu­ti­ons and AI-based plat­form tech­no­lo­gies for the digi­ta­liza­tion of busi­ness and admi­nis­tra­tive processes.

Oliver Bevan, Part­ner at Synova, commen­ted: “AITS has made impres­sive achie­ve­ments in recent years and has an exci­ting vision to conso­li­date the highly frag­men­ted German IT services market. Synova is deligh­ted to be joining Marc and the AITS team in this exci­ting new chapter.”

This tran­sac­tion is Syno­va’s first plat­form deal in Germany and its second in the DACH region, follo­wing its invest­ment in Basel-based Avan­tra. This unders­cores Syno­va’s commit­ment to support­ing excep­tio­nal manage­ment teams in Euro­pe’s most attrac­tive growth markets and sectors. — https://www.synova.pe/

Advi­sor Allgeier SE: POELLATH

Dr.Tim Jung­in­ger, LL.M. (Part­ner, Lead, M&A/Private Equity, Munich)
‑Dr. Domi­nik Gerli­cher, LL.M. (Coun­sel, Co-Lead, M&A/Private Equity, Munich)
‑Gerald Herr­mann (Asso­cia­ted Part­ner, Tax, Munich)
‑Chris­tine Funk (Coun­sel, IP/IT, Frank­furt aM)
‑Jannis Lührs (Senior Asso­ciate, Tax, Munich)
‑Marvin Ritt­meier (Asso­ciate, M&A/Private Equity, Munich) 

About POELLATH

POELLATH is a leading, inter­na­tio­nally networked commer­cial and tax law firm with over 180 legal and tax profes­sio­nals in Berlin, Frank­furt and Munich. We stand for excel­lent advice on tran­sac­tions and asset manage­ment — legal and tax from a single source. Our specia­li­zed prac­tice groups not only know the law — toge­ther with our clients we shape best prac­ti­ces in the market. Natio­nal and inter­na­tio­nal rankings regu­larly list us as a leading law firm in our selec­ted areas of law. — www.pplaw.de