EQS-News

SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity – Acquisition of Elatec by the SGT Funds

EQS-News: SGT German Private Equity GmbH & Co. KGaA / Key word(s): Private Equity/Change in Forecast SGT German Private Equity GmbH & Co. KGaA: SGT German Private Equity – Acquisition of Elatec by the SGT Funds 30.05.2023 / 09:01 CET/CEST The issuer is solely responsible for the content of this announcement. +++ Press release +++

 

SGT German Private Equity – Acquisition of Elatec by the SGT Funds

  

• Second Private Equity transaction for the SGT Capital Funds
• Raise of additional assets under management
• Significantly positive effects on future earnings

 

Frankfurt/Main, 30 May 2023 – Private Equity Funds managed by SGT Capital Pte. Ltd. (SGTPTE) are to acquire Elatec, a leading international developer and supplier of secure access management solutions, mission-critical components of their customers’ security infrastructure, in a leveraged buyout from Summit Partners. Incorporated in 1988 and headquartered in Germany, with more than 150 employees and over 1,200 customers globally, Elatec develops ultra modern contactless (RFID/BLE/NFC) reader hardware and firmware for user identification and a cloud based integrated IoT platform for SaaS device management, mobile credential management and physical access management. Its products are certified in 110 countries and enable a secure end-to-end encryption. The transaction is valued at approximately 400 million euros and is subject to customary regulatory approvals.

This investment will be managed by SGT Capital Pte. Ltd. (SGTPTE), a licensed private equity asset manager headquartered in Singapore, wholly owned subsidiary of SGT German Private Equity in Frankfurt (SGF). Investors are various SGT Private Equity Capital Funds.

Carsten Geyer, Co-Managing Partner of SGT Capital and Managing Director of SGT German Private Equity in Frankfurt: “Elatec is well positioned to drive continued growth and innovation for Electric Vehicle Mobility, Smart Business, Smart Office and Smart City expansion. The Elatec transaction demonstrates SGT Capital’s unique capability to identify and invest in market leading businesses and management teams and enhance their value through continued innovation and global growth initiatives.”