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SGT Capital acquires Elatec, the leading global provider of Secure Access Solutions
News provided bySGT Capital
May 30, 2023, 3:00 AM ET
- SGT Capital to acquire Elatec, a leading international developer and supplier of secure access management solutions that are mission-critical components of their customers' physical and digital security infrastructure.
- Elatec solutions combine essential elements of secure physical and cyber access for Electric Vehicle Charging Infrastructure, Smart City, Smart Building, Smart Office and Operator Access into one integrated IoT and SaaS integrated platform.
- Elatec develops ultra-modern contactless (RFID, BLE and NFC) reader hardware and firmware for user identification and a cloud based IoT platform for device management, mobile credential management and physical access management.
- Headquartered in Germany, Elatec has more than 150 employees around the globe and supports all RFID, BLE and NFC technologies, while its products are certified in more than 110 countries and enable end-to-end encryption.
FRANKFURT, Germany, May 30, 2023 /PRNewswire/ -- SGT Capital is pleased to announce that it has reached a definitive agreement to acquire Elatec GmbH ("Elatec" or the "Company") from growth equity investor Summit Partners. SGT Capital is a global private equity firm that invests in mid-sized, market leading companies and supports existing management teams in realizing their ambitions for accelerated international expansion.
Headquartered in Germany, Elatec is the leading international developer and supplier of a range of secure physical and digital access solutions. The Company provides contactless (RFID/BLE/NFC) reader hardware for user identification and a cloud based IoT platform with SaaS device management solutions globally. Elatec has more than 150 employees around the globe and supports 60+ RFID card type technologies plus BLE and NFC, while its products are certified in 110 countries and enable end-to-end encryption.
Joseph Pacini, Co-Managing Partner of SGT Capital, said: "Elatec is a market leader in secure physical and digital access solutions globally and combines a strong IoT platform with SaaS device management and mobile authentication technology solutions that are essential for the structural global growth of increasing interconnectivity and the need for increased physical and cyber security. We look forward to working with CEO Robert Helgerth and the entire Elatec team at this exciting time for their business."
Robert Helgerth, CEO of Elatec, said: "We are moving at a fast pace into Elatec's next phase of growth with our primary focus on continued technical innovation plus international expansion. SGT Capital's ownership and support is key to sustaining our performance and momentum."
Carsten Geyer, Co-Managing Partner of SGT Capital, said: "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."
Gerhard Burits, CFO of Elatec, said: "Elatec is poised for significant future growth given our innovation as well as the structural growth in our existing markets and we are grateful to our clients, colleagues and partners for their support and commitment."
Dr. Matthias Allgaier and Steffan Peyer, Managing Directors at Summit Partners and Board Directors at Elatec, added: "Over the course of the last five years, Elatec has generated strong growth, expanded its global footprint and served customers across increasingly diverse end markets. We are grateful to Robert Helgerth, Gerhard Burits, Stefan Haertel and the entire Elatec team for their partnership, dedication, vision and execution."
The transaction is valued at approximately EUR 400 million and is subject to customary regulatory approvals.
SGT Capital was advised by Willkie Farr & Gallagher (legal), E&Y (financial), Grant Thornton (tax), Roland Berger (commercial), and Consileon (technology).
FTI Consulting: Florian Bamberg Florian.Bamberg@FTIConsulting.com
SGT Investor Relations: firstname.lastname@example.org
About SGT Capital
SGT Capital is a global private equity firm that invests in mid-sized, market leading companies in structurally growing markets and supports existing management teams in realizing their ambitions for accelerated international expansion in combination with more traditional private equity value creation strategies. SGT Capital is led by Carsten Geyer, Joseph Pacini, Dr Marcel Normann, Jens Dino Steinborn, Marianne Rajic and Christoph Gerlinger. The principals of SGT Capital are seasoned professionals from market leading private equity, asset management, investment banking, and consulting firms, bringing over 100 years of investment experience and experience in managing more than USD$40 billion for their investors.
More info: www.sgt-capital.com
ELATEC is a leading international developer and supplier of a range of physical and digital secure access control and mobile authentication technology solutions. ELATEC's technology has been adopted across various industry verticals and applications, including physical access control, machine authentication, EV charging, vending and dispensing, driver identification and secure printing, with long-time partnerships across multiple segments. ELATEC's universal readers work with all major HF and LF transponder technologies—including HID, LEGIC, MIFARE DESFire and NXP—and mobile authentication via Bluetooth® Low Energy (BLE) and Near-Field Communication (NFC). The company continues to innovate with best-in-class hardware options, powerful software and exceptional service and support.
More info: https://www.elatec-rfid.com/
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SOURCE SGT Capital
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