06.04.2020

SANCOVIA ADVISES UFENAU CAPITAL PARTNERS ON ITS ACQUISITION OF IKOR

Ufenau Capital Partners has acquired a majority shareholding in IKOR AG. The company, which is headquartered in Hamburg, was founded 20 years ago and now has more than 200 highly qualified employees at six locations in Germany, Austria, Serbia and Poland.

As a a technology consultancy and integration specialist, IKOR supports the change in the course of advancing automation and digitalization processes at development and commercial banks, insurance and industrial companies. As a developer of SAP applications, IKOR fills the gaps in the SAP standard and is also one of Europe’s leading consulting firms for the optimization and development of Guidewire solutions. Through nearshoring of individual software development, the company can rely on an extended circle of highly skilled IT experts. Together with the current management team, which continues to hold a significant stake in the company, the market-leading position will be strengthened and further expanded through acquisitions in the coming years.

“The goal is to build a group of highly competent technology companies that complement each other and strengthen our position in the platform integration field. In Ufenau, we have found an experienced and reliable partner who does not lose sight of our long-term goals, even in a turbulent overall market, and who will enable us to achieve this vision,” explains
Lars Ackermann, CEO of IKOR.

“IKOR is a rapidly growing company that is characterized by its unique corporate culture and the existing know-how of its highly qualified employees. The fragmented market in this environment is ideally suited for a buy-and-build strategy to support organic growth,” adds Ralf Flore, Managing Partner at Ufenau.

Sancovia provided support to the buyer in financial due diligence.

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