Carlsquare advised Synova, a London-based private equity firm specializing in technology and business services investments, on its acquisition of Allgeier IT Services GmbH from Allgeier SE (ETR: AEIN). Following the recently signed DBAG-MAIT transaction, this transaction demonstrates Carlsquare’s growing buy-side presence for financial sponsors in the German IT services market successfully leveraging our M&A and debt offering.
Founded in 2007, Synova is recognised as one of Europe’s most innovative growth investors, generating market-leading returns. Synova invests in high-growth companies across software and data, technology-enabled services and financial services.
Allgeier IT Services is a leading end-to-end IT services provider to German Mittelstand and critical national infrastructure customers with particular expertise in cloud services, cybersecurity, data & AI. The company’s strong national footprint, scalable operational frameworks and integrated technology platform position it well to consolidate the highly fragmented German market. Serving over 300 clients, AITS operates from a national footprint of 10 offices across Germany and has delivered market leading organic growth over the last 3 years.
This transaction represents Synova’s first platform investment in Germany and its second in the DACH region, following its successful investment in Basel-based Avantra. The acquisition underlines Synova’s commitment to supporting exceptional management teams in Europe’s most attractive growth markets and sectors.
For Allgeier SE, the sale of AITS is a further step in the group’s strategic transformation, following the sale of its personnel services business in October 2024. Allgeier SE is sharpening its focus on software solutions and AI-based platform technologies for the digitalization of business and public administration processes.
“We are excited to partner with Synova to accelerate the growth of AITS. We believe that they bring highly valuable expertise as we continue to develop AITS’s innovative service offering, and pursue an ambitious buy and build growth strategy.” – Marc Oleschkewitz, CEO, AITS
“AITS has delivered impressive performance over recent years and has an exciting vision for consolidating the highly fragmented German IT services market. Synova is delighted to partner with Marc and the AITS team in this exciting new chapter.” – Oliver Bevan, Partner, Synova
Carlsquare acted as the exclusive financial advisor to Synova.
