After Waterland investment: netgo invests in cloud provider ComNet

  • ComNet, with 21 employees, specializes in IT services managed from its own data center
  • The IT specialist, based in Würselen, has 30 years of experience in the market
  • netgo group to acquire 100 percent of the shares
  • ComNet founder Holger Schmitz remains managing director and participates in the netgo group via a management holding company

Hamburg/Borken/Würselen, November 22, 2019 – Following the entry of Waterland Private Equity in October 2019, the netgo group has recorded its first success. The IT group is taking over the managed services provider ComNet. netgo and ComNet complement each other in terms of corporate culture, product and services portfolio as well as their customer base. The aim of the partnership is to offer customers of both companies a broader range of IT solutions and services and to leverage cross-selling potential. The netgo group is acquiring 100 percent of the shares. Managing Director Holger Schmitz retains a participation in the netgo group through a management holding company.

ComNet , headquartered in Würselen (North Rhine-Westphalia), was founded in 1990 by Bernd and Holger Schmitz, primarily to support smaller companies setting up their IT infrastructure. Over the years, the company has grown to 21 employees, serves about 200 customers nationwide and offers a wide range of services. ComNet offers its customers a complete IT environment via its own self-designed high-performance data center (private cloud). ComNet handles the entire IT infrastructure as well as the operation of its customers’ business-critical applications, including all administrative activities. Individual IT concepts are developed and implemented for seamless migration to the ComNet data center. In this way, ComNet generates a close, long-term relationship with its customers. A special feature is the range of industry solution packages for tax consultants, auditors, lawyers, companies, nursing homes and medical supply stores.

Bernd Schmitz is to leave the company as planned after a short transition period before his retirement. Holger Schmitz stays on-board as managing director, sending a clear signal to ComNet’s employees, customers, and partners through his participation in a management holding company. “I am looking forward to joining forces with the netgo group. My enthusiasm for new technologies and as-a-service models is far from over and by working together we can achieve much more in this market”, says Holger Schmitz.

Bernd Schmitz says: “In the 30-year history of ComNet, we have been able to reinvent ourselves in this industry several times over. and I am very proud of what we have achieved and happy to hand over the lifework of our career to an ideal partner.”

The partnership with ComNet is a first step in the buy-and-build strategy, that netgo and Waterland are jointly implementing. netgo was founded in 2007 by Benedikt Kisner and Patrick Kruse as an IT system house in Borken (North Rhine-Westphalia) and has enjoyed above-average growth in recent years, both organically and from the successful acquisition of other IT system houses.

Today, the netgo group has around 350 employees at 17 locations and offers its customers a wide range of consulting, products and services in the business areas of hosting & storage, IT infrastructure, IT security, communication & messaging, IoT & analytics, coupled with tailored customer 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.

Benedikt Kisner, founder of netgo, comments: “We are looking forward to having ComNet, a long-established private cloud specialist with a clear focus on industries and small companies, as part of our group and to strengthening our team with 21 new colleagues. Together we want to continue the above-average growth of ComNet achieved in recent years and above all use the existing capacity for expansion at the Würselen site for additional customers and employees.”

Dr. Carsten Rahlfs, Managing Partner at Waterland, says: “The acquisition is an excellent start for netgo’s buy and build strategy. We want to consolidate the fragmented market for IT system houses, which is experiencing growth of at around 10 percent per year and implement further partnerships”.

About netgo

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 I T 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.

About Waterland

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 holdings 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 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.