H.I.G. Capital Europe
About the Client
Infinigate is one of the leading and most profitable European Value Added Distributors (“VAD”) with sole focus on IT security solutions. The company was founded in 1996, is headquartered in Rotkreuz, Switzerland, and today operates from offices in nine European countries comprising approximately 250 employees and is generating revenues in excess of EUR 300m per year.
Distributed IT security products include firewalls, VPN gateways, intrusion detection and prevention systems (IDS/IPS), encryption, virus protection, e-mail as well as content security solutions. Infinigate acts as an intermediary between complex IT security product vendors such as McAfee, Sophos, Checkpoint and resellers who sell and integrate the products to end customers, typically mid-sized and enterprise companies.
About the deal
GP Bullhound acted as the exclusive financial advisor to Infinigate Group (“Infinigate”) on a substantial investment by H.I.G. Capital Europe (“H.I.G. Capital”). With H.I.G. Capital as a new investor, Infinigate has secured strong financial backing to continue its outstanding growth path. As in previous years, future growth will be driven organically and via acquisitions in Europe including a continuous geographic expansion to become the continent’s leader in the distribution of IT security solutions.
David Martinez, founder and CEO of Infinigate, commented: “On the basis of our strong historical track record, we have decided to accelerate our European expansion strategy over the coming years backed by an investor that supports our strategy as well as our independency in the market. We are delighted to partner with H.I.G., an experienced global investor, in implementing this strategy. Through the partnership, which has been facilitated by our advisor GP Bullhound, Infinigate will benefit not only from H.I.G.’s financial resources, but also from its substantial experience in the technology sector, in the development of new markets and, most importantly, in new acquisitions.”
Julian Riedlbauer, Partner at GP Bullhound, commented: “We are proud to have advised such a large multinational company in the IT Security sector. This substantial investment by H.I.G. Capital represents a very exciting opportunity for the business to accelerate its growth and it is one of the largest transactions in the IT Security sector in Europe in the recent past.”