News

PCS3 acts as sole lender to support Vitruvian Partners’ acquisition of Technogroup

11th January 2018

Permira Debt Managers (“PDM”), announces that direct lending fund Permira Credit Solutions III (“PCS3”) acted as sole senior secured lender to finance Vitruvian Partners’ (“Vitruvian”) acquisition of Technogroup IT-Service GmbH (“Technogroup”), continuing the fund’s strategy of supporting successful niche leaders with strong growth ambitions.

Founded in 1990, Technogroup is the leading third party maintenance (TPM) player in the DACH region. It provides insurance-like technology maintenance services and additional value-add services for IT systems in data centres in its core German speaking market and throughout Europe. Technogroup serves over 4,000 customers across a wide range of industries, both direct and through leading technology partners. It has over 240 employees across 25 offices and 12 logistics centres.

Jens Bauer, Investment Director at PDM, commented: “We are delighted to back the new owners Vitruvian as Permira Credit Solutions III provides long-term financing to Technogroup as it scales it business. Technogroup provides a critical insurance-like service to its customers and is attractively positioned to gain further market share in its niche.”

David Hirschmann, Partner and Head of Private Credit at Permira Debt Managers added: “This transaction is consistent with our funds’ investment strategy which focuses on lending to high-quality European mid-market companies that are looking to grow and diversify their capital sources.”