Waterland portfolio enterprise grows with the acquisition of CSM MeinSystemhaus
Hamburg / Borken / Warendorf, September 8, 2020 – netgo, an IT systems enterprise headquartered in Borken, is expanding and deepening its geographical presence, as well as refreshing its service portfolio. Right after two Berlin-based companies commehr and workbees became a part of the group, CSM MeinSystemhaus GmbH & Co. KG (“CSM”) based in Warendorf is now coming on board as well. The company specializes in IT solutions for tax consultancy firms among others and enjoys an especially strong position on the market in Nordrhein-Westfalen and Hessen. The seller of the share majority is Martin Müller, who has been at the helm of CSM in the second generation; he has reinvested in the company and will stay on as managing director in the future as well. The transaction, the details of which the parties have agreed not to disclose, will probably be finalized in the weeks to come.
CSM, founded in 1977, employs a staff of over 150 people. In addition to the headquarters in Warendorf, it also has locations in Siegen, Lüdenscheid, Rheda-Wiedenbrück, Mittenaar, Bad Salzuflen, Butzbach and Unna. The company has grown over the years by continually expanding its services, as well as through acquisitions (bits+bytes it-solutions as well as the corporate customer business of Girosoft and infrastructure operations of Jochen Blöcher). CSM sees itself as a full-service provider catering to any IT concerns of medium-sized enterprises; services include IT concepts, hardware and software from a single source, data provision and back-up. cybersecurity, IP communication and managed services, as well as web design, hosting and the placement of data protection officers. In addition to medium-sized businesses, tax consultancy firms build yet another pillar; to these customers, CSM offers DATEV-compliant solutions like the planning and implementation of consultancy office processes in conjunction with software, communications and the Internet.
netgo Group, on the market since 2007 and a part of the Waterland private equity firm portfolio since the end of 2019, has been continually expanding within a Buy&Build strategy in the heavily fragmented IT system enterprise market. In this manner, shortly after the merger with Waterland, cloud provider ComNet and business software expert MEHRWERK joined the Group; the acquisition of commehr and workbees was announced just a few days ago. Through the addition of CSM, the service portfolio and managed services footprint of netgo will be strengthened once again.
netgo managing director and founder, Benedikt Kisner, notes that “we are very pleased with this recent reinforcement. With nearly 600 employees at numerous locations throughout the Federal Republic of Germany, we are now a one-stop-shop system enterprise, to which almost all paths now lead. If you are an SME that wants to rely on quality, service and know-how in all IT matters, you will be in the best of hands with netgo and its subsidiaries.”
Martin Müller of CSM adds that “for CSM, cooperation with netgo and Waterland translates to the consistent continuation of the growth path we have been taking, even beyond our home region. We are now a part of an especially powerful Group that will be further developing its market position at a rapid pace.”
Dr. Carsten Rahlfs, Managing Partner at Waterland, explains that “the strong presence of CSM at consultancy clients and the large share of recurring sales from Managed Services and stable customer relations open a number of exciting opportunities for cooperation within the Group. Both in terms of strategy and culture, CSM is an excellent match for netgo and its other affiliates. In this respect, this transaction constitutes a new and important building block of our growth strategy.”
Based on assistance for numerous holdings in the “outsourcing and digitization” field in Europe, Waterland has already managed to gain extensive experience in the market and has currently established partnerships in German-speaking regions within this area of expertise with the Serrala Group (payment technologies), enreach (unified communication) and Tineo (Enterprise IT).