ADCO Environmental Services sells subsidiary QITS to Borromin Capital
Ratingen — ADCO Umweltdienste Holding GmbH (ADCO) from Ratingen sells all shares of its subsidiary QITS GmbH (QITS) to Borromin Capital Fonds IV (Borromin). Mayland AG exclusively advised ADCO on this transaction.
As a specialized IT service provider, QITS is the technology and market leader in the field of customer communication (“output management”) with a particular focus on the processing of highly sensitive, business-critical customer data and its distribution via a wide variety of physical and digital communication channels (“omni-channel”). QITS’ long-standing customers include a wide range of different companies with high output requirements for transaction documents and the associated highest security requirements from industries such as energy supply, financial services, insurance and housing. QITS supports its customers in particular in the further digitization of their customer communications.
The ADCO group of companies with over 4,000 employees is the world market leader in the field of mobile connection-free sanitary units (“TOI TOI & DIXI”) and is represented by 49 operating companies in 29 countries. The ADCO Group was run as a successful family business for over 30 years. Since 2019, Apax Partners is the new majority shareholder of the group. ADCO sold QITS in order to focus on its own core business, but also to allow QITS to continue and further accelerate its successful development with a new investor fully focused on QITS.
Borromin (formerly Steadfast Capital) is an independent private equity investment company focused on medium-sized companies in German-speaking Europe and the Benelux countries. Borromin’s funds invest in medium-sized companies and provide equity capital for entrepreneurial successions, management buy-outs and growth financing. Borromin was founded in 2001 and has since pursued a successful, value-oriented strategy of investing in profitable companies in a wide range of industries.
MAYLAND AG was exclusively mandated with the sales process and provided comprehensive advice to ADCO and QITS. Within the framework of an international auction, the transaction was successfully completed within 4 months.
MAYLAND is an independent, owner-managed M&A consultancy based in Düsseldorf. Since its foundation in 1998, MAYLAND has been developing individual solutions for the purchase and sale of companies or parts of companies with owners and management of both medium-sized companies and corporate groups, and has been implementing these transactions together with the decision-makers. MAYLAND also arranges any necessary or required financing or associated restructuring.
MAYLAND provides structured process management for these national and cross-border projects and coordinates all services for a successful completion of the transaction. With analytical excellence, many years of experience and a commitment to partnership, MAYLAND structures transactions in all phases of a company. MAYLAND attaches particular importance to customized and holistic solutions, transparent consulting services and long-term customer relationships based on trust. For more information in German, English, Chinese and Russian, please visit www.mayland.de.