- Founders Patrick Kruse and Benedikt Kisner plan to join forces with Waterland and continue to expand through a buy & build strategy
- netgo is a successful company from North Rhine-Westphalia with an excellent reputation as an employer, high customer satisfaction and around 350 employees
Hamburg/Borken, October 8, 2019 – Together with the two founders, Patrick Kruse and Benedikt Kisner, Waterland Private Equity plans to further boost the organic growth of netgo. The portfolio of services offered to customers is to undergo additional expansion through targeted acquisitions. The IT system house market is fragmented and offers significant potential for consolidation. The two founders of netgo will remain significantly involved and remain on board as managing directors.
netgo was founded in 2007 by Benedikt Kisner and Patrick Kruse as an IT system house in Borken, Germany. In recent years, the company has achieved above-average growth, both organically and through the successful acquisition of other IT houses. Today, the netgo group has around 350 employees at 17 locations and offers customers a wide range of consulting, products and services in the business areas of hosting & storage, IT infrastructure, IT security, communication & messaging, IoT & analytics combined with customized solutions. Together with its customers, netgo develops individual IT strategies and can draw on many years of experience and expertise in all forms of IT operation: in-house, private cloud and public cloud. Thanks to this broad range of services, netgo today acts as a one-stop shop for its more than 3,000 customers throughout Germany. The product range will be further expanded in the coming years.
There are currently more than 1,000 IT system houses in Germany, most of which have a regional focus. The overall market for IT system houses is growing at a rate of more than 10 percent per year.
Benedikt Kisner, founder of netgo, says: “The IT industry is in a state of flux and is constantly changing. This requires IT companies to be highly innovative and specialized, while offering a wide range of services and products at the same time. So, we are more than happy to have the right partner, Waterland, on our side as we continue to grow in this market. Our objective is to become one of the leading IT system houses in Germany and benefit from the changes in the IT industry.”
Patrick Kruse, also founder of netgo, explains the growth strategy: “In the coming years, we will focus our acquisitions on geographical expansion as well as on broadening our portfolio in order to offer our customers even more solutions and services.”
Dr. Carsten Rahlfs, Managing Partner at Waterland, says: “netgo is a success story in the IT system house market and has a unique corporate culture and an excellent reputation. In addition, the company’s experience in acquiring smaller IT system houses puts it in an excellent position to consolidate this fragmented market in Germany by means of a buy-and-build strategy. I am convinced that the combination of the two founders’ industry expertise and Waterland’s know-how in building platforms will bring many benefits to netgo’s customers, business partners and employees”.
The transaction is subject to the approval of the competition authorities.
With around 350 employees at 17 locations, the netgo group supports companies in an increasingly complex world on the path to digitalization.
Dynamism and agility are firmly rooted in netgo’s corporate culture. With these attributes, the group helps its clients to develop their strengths. Numerous IT specialists, technicians and consultants across the group see themselves as a team with the goal of accompanying customers on their way into the future.
Concentrated in specialized companies and at the same time united under a single banner, the netgo group is a central contact for all questions of information technology, information security and information processes. By minimizing the number of contact points and contact persons, the netgo group increases the added value of companies and public institutions.
netgo sees itself as work facilitator, process accelerator, lateral thinker, knowledge sharer, knowledge protector, mobility creator, problem solver and application enthusiast.
Waterland is an independent private equity investment company that helps companies realize their growth plans. With substantial financial support and industry expertise, Waterland enables its investments to accelerate growth both organically and through acquisitions. Waterland has offices in the Netherlands (Bussum), Belgium (Antwerp), Germany (Hamburg, Munich), Poland (Warsaw), the UK (Manchester), Denmark (Copenhagen) and Switzerland (Zurich). It currently manages six billion euros in equity capital.
Since its foundation in 1999, Waterland has consistently achieved above-average performance with its investments and has regularly been ranked among the top 3 of the world’s leading private equity firms in past HEC/Dow Jones private equity performance rankings.