Ashurst advised NIBC Bank Deutschland AG (NIBC) and SEB AG (SEB) on the financing of the acquisition of a majority stake in Utimaco Group, a leading global provider of specialist professional cyber security and compliance solutions, by EQT Mid Market Investment Strategy (EQT Mid Market).

The sellers, PINOVA Capital, BIP Investment Partners and the Utimaco management will all re-invest and remain minority investors. The parties have agreed not to disclose the financial details of the transaction.

EQT Mid Market will support the continued development of Utimaco and will actively assist the company in capturing new growth opportunities. EQT will provide particular support in further developing Utimaco’s international expansion.

The Ashurst team was led by partner Anne Grewlich, assisted by counsel Dr Oliver K Hahnelt, associate Dr Jan Ulrich Heinemann and transaction manager Anna Jevsejeva (all finance). Partner Dr Martin Bünning (tax) and counsel Dr Philip Cavaillès (corporate, all Frankfurt) also advised.

NIBC and SEB are longstanding clients of Ashurst's finance team. Just recently, the firm advised the banks on the financing of the acquisition of think! project, a Germany-based provider of cloud solutions for cross-enterprise collaboration on projects, by private equity firm TA Associates.

Utimaco has around 170 employees worldwide that are generating a revenue of approximately €40 million. The company is headquartered in Aachen, Germany, with subsidiaries in the US and Italy and further presences in UK and Singapore.

EQT is a leading global private equity group with portfolio companies in Europe, Asia and the US with total sales of more than EUR 15 billion and approximately 100,000 employees.