Cowen advises VR Equitypartner GmbH and MEH Beteiligungs GmbH on the sale of N3K Network Systems to Invision

Overview

Transaction

N3K Network Systems (“N3K Group”), a specialized IT service provider and “one-stop-shop” from Heilbronn, Germany, for mission-critical software solutions in the areas of DDI, Active Directory & Cloud Auditing and Privileged Account Management, has a new majority shareholder, Invision Capital Partners (“INVISION”). VR Equitypartner will stay involved in the company as a minority shareholder via a reinvestment. The founder and CEO of the N3K Group, Rainer Maurer, will continue to be available to the company as a consultant and designated member of the advisory board. Alexander Häcker remains Managing Director and will lead the company as the new CEO after the transaction. Christian Ehrenthal, Founder and President of N3K’s subsidiary Cygna Labs will be responsible for the America business. Both will also participate in the company as minority shareholders.

Cowen exclusively advised VR Equitypartner and MEH Beteiligungs GmbH during the process. The transaction is still subject to approval by the antitrust authorities.

Alexander Häcker on the sale: “We are pleased that we can lead N3K into a new era together with Invision and VR Equitypartner. Together we want to efficiently drive organic growth in Germany and the USA and further strengthen the N3K Group through strategic acquisitions.“

Client

The N3K Group, based in Heilbronn, Germany, was founded in 2000. The company sells business-critical software solutions in the areas of DDI, Active Directory & Cloud Auditing and Privileged Account Management. N3K successfully acts as a “one-stop shop” for its own software solutions as well as a reseller for third-party solutions. This year, the N3K Group was able to significantly expand its proprietary software portfolio, on the one hand through the continuous further development of runIP and the introduction of runIP Radar, and on the other through the acquisition of the American software manufacturer Cygna Labs. The company attaches particular importance to its customer relationships and has thus been able to acquire a loyal and broad-based customer base, which includes 14 of the DAX 30 companies. Currently, the N3K Group employs approximately 60 people.

Buyer

INVISION is an equity investment company based in Switzerland and Germany, focusing on small- and medium-sized companies in Europe, particularly in German-speaking Europe.

Since its founding in 1997, INVISION has helped over 50 companies in the realization of their growth plans – particularly with regard to internationalization, innovation, product development, strategic investments and digital transformation of business processes.

VR Equitypartner is one of the leading private equity companies in Germany, Austria and Switzerland. Investments derive from growth and expansion financing as well as corporate succession and changes of shareholders. VR Equitypartner provides both majority and minority investments as well as mezzanine financing. The VR Equitypartner portfolio currently comprises around 60 investments with an investment volume of EUR 400 million.

Contact

Photo Jozsef Bugovics

Jozsef
Bugovics

Partner
M&A, Cowen

+49 341 9837 90
Email

Photo Jens Schmidt-Sceery

Jens
Schmidt-Sceery

Partner
M&A, Cowen

+49 30 7675 867 02
Email

Marco
Schunder

Partner
Debt Advisory, Cowen

+49 172 6212 755
Email

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