CONET Wins H.I.G. Capital as a New Strategic Development and Finance Partner

Hennef, May 2nd, 2017. CONET and H.I.G. Capital will be cooperating in future to continue the growth of the successful Hennef-based IT system house and consultancy in the core markets in Germany and Austria, to expand into other European markets with the internally developed powerful communications solution for control centers UC Radio Suite as well as to exploit other potentials in innovative approaches which currently influence the markets strongly, like cyber security, cloud computing and big data. H.I.G. Capital, a leading and globally operating financing company with more than 20 billion euro administrated equity, has announced today to acquire a majority share in CONET Technologies AG.

The management of CONET will remain in the hands of the management team with CONET executive Anke Höfer, who has decisively contributed to the successful development of CONET ever since 1994 and has now taken over as CEO. The former CEO Ulrich Wantia retires from the company with the express gratitude of both the management and the supervisory board.

Anke Höfer, new CONET CEO, comments on the future cooperation with H.I.G. Capital: „Building on the success of the past years we strive to continue to maintain our pattern of growth together with an investment partner which fully supports our strategy. We are very glad to have won a perfect partner H.I.G., an experienced international investment company. Through this partnership, CONET will not only benefit from H.I.G.’s financial resources in future, but also from their extensive expertise in the IT business, in the opening of new markets and especially in acquisitions and the successful implementations of buy & build strategies.“

Dr. Holger Kleingarn, Managing Director at H.I.G. European Capital Partners GmbH, adds: „With their clear focus on customers from the public sector CONET has succeeded to grow impressively. CONET benefits from excellent customer relationships and market-leading expertise in many highly innovative sectors. H.I.G. aims to support the company in future via our membership on the advisory board to extend their market share within the fast growing market for IT consulting and IT services –  both through organic growth and through selective acquisitions. H.I.G. is very much looking forward to our partnership with Mrs. Höfer and her team.“

The transaction is subject to approval of the responsible public authorities. The parties agreed upon confidentiality regarding the financial details.

H.I.G. Capital is a leading global private equity investment firm with $24 billion of equity capital under management.* The H.I.G. family of funds includes private equity, growth equity, real estate, debt/credit, lending and biohealth. We align ourselves with committed management teams and entrepreneurs and help build businesses of significant value. Our team of over 300 investment professionals has substantial operating, consulting, technology and financial management experience, enabling us to contribute meaningfully to our portfolio companies. We invest in companies throughout the U.S. and Europe and have offices in Miami, New York, Boston, Chicago, Dallas, Los Angeles, San Francisco and Atlanta in the U.S., and affiliate offices in London, Hamburg, Luxembourg, Madrid, Milan and Paris in Europe as well as Bogotá, Mexico City and Rio de Janeiro in South America.