IT services · DACH · Buy and Build

We buy and build IT services companies.

Led by operators who scaled IT services from €25m to €100m themselves. We work with founders in the DACH region to turn €2–5m of EBITDA into more than €10m, through operational value creation, buy and build, and AI-native delivery.

Book an introductory call Our investment criteria

As featured in Handelsblatt F.A.Z. CRN ChannelPartner IT-Business

20+

years in IT services,
with operational responsibility

€25→100 m

of revenue scaling we ran
ourselves

transactions since 2025,
one platform, one add-on

whitepapers of our own
on the IT services market

Why us

Six reasons founders choose us

What sets us apart from generalist investment firms is built into the structure.

IT services only

Six subsectors, nothing else. Six IT services subsectors in the DACH region, our own frameworks, our own market research.

Cambridge Associates puts sector-focused funds at 2.2x MOIC against 1.9x for generalists.

Operator DNA

We have sat on the management board ourselves, owned delivery and led teams through growth. Conversations happen between equals.

Cloudflight: from €25m to €100m revenue, then sold to Partners Group.

Buy and build that actually integrates

No holding structures with separate companies underneath. We bring add-ons together into one organisation. Brand, processes, systems.

McKinsey finds programmatic acquirers beat their peers by around 4 percentage points of TSR a year.

Fair, risk-adjusted structures

Disciplined entry prices with a substantial deferred component. Typically 30–50% through earn-outs, rollover equity and vendor loans.

Risks we can solve as operators, provided the structure protects both sides.

Our own delivery team

An Operating Professional works on site in the portfolio from day one. An Investment Professional and an Operating Professional stay with each holding operationally.

The same team from sourcing to exit.

AI-native delivery

We built cloud native. That is why we can run AI-native today as an operational lever across the portfolio, with targets for utilisation and contribution margin.

Set out in our whitepaper “The AI-Native IT Services Company”.

Investment criteria

Does your company fit?

We are deliberately narrow. If the numbers fit, a conversation is worth having, even if a sale is still years away for you.

We look for platforms in the DACH region and add-ons across Europe. Lower thresholds apply to add-ons.

Have your numbers checked, without obligation

Sector	IT services only
Subsectors	Cloud · Cyber · AI Engineering · Managed Services · ERP · Custom Software
Region	Platforms DACH, add-ons Europe
Revenue	€5–30m
EBITDA	above €2m
Stake	Majority, with 15–30% rollover equity for the founder
Holding period	3 to 6 years
Situations	Succession · growth capital · partial sale · full sale

For M&A advisors

Advising a seller? Criteria, exclusion criteria and submission, all on one page.

See the criteria Submit a deal

Portfolio

One platform. One integrated add-on.

Fourteen months after we came in, tecRacer had acquired and integrated KaWa commerce.

Platform

tecRacer

One of the leading AWS specialists in the DACH region. Since we came in in January 2025 we have rebuilt the company operationally: a new leadership team, four business units, and an operating model that can carry acquisitions.

Entry

January 2025

Sector

AWS cloud engineering

Role

Platform

Read the case study →

Add-on

KaWa

Our first add-on on the tecRacer platform, and the proof that our approach to integration works.

Role

Add-on

Platform

tecRacer

Read the case study →

From the portfolio

The tecRacer team at the AWS Summit. The value sits in the people.

In IT services, the quality of delivery decides everything. That is why we invest in leadership, training and structures that carry performance. We name changes openly.

Since January we have integrated an acquisition and earned three AWS competencies. That is possible because decisions here take days, not quarters.”

Rachel Linnemann

CEO tecRacer

Free self-assessment

How ready for sale is your company?

What your company is worth is decided long before the sale. Our Exit Readiness Score puts twelve questions to you along the same five levers buyers actually price, written from the buyer’s side of the table.

✓Three minutes, no registration up front

✓A score from 0 to 100 with a reading for each lever

✓A personal report with an indicative multiple range

✓Your three biggest value levers, named

Quick check

Question 1 of 3

What share of your revenue is recurring?

Insights

We write down how we think.

Four whitepapers, four frameworks, one continuous thesis. Free, in exchange for your email address.

NewEN · 32 pages

The Multiple Is a Scorecard

The five levers buyers price, and a 40-point scorecard for exit preparation.

Download →

EN · 20 pages

Buy and Build in IT Services

Why most roll-ups fail, and what it takes to turn acquisitions into one company.

Download →

The AI-Native IT Services Company

How to transform your business before your competitors do.

Download →

DE · 29 pages

NextGen IT Services

The growth drivers in the IT Mittelstand and a 7-point check on how ready you are to scale.

Download →

Team

People who have delivered themselves.

Four people who have delivered, scaled and sold IT services themselves.

Jörn Petereit

Managing Partner

Eike C. Frerichs

Managing Partner

Julian Bohne

Investment Professional

Johannes Zeigert

Operating Professional

Growth, succession or sale: let’s talk about it.

A first conversation is confidential, without obligation and costs you 30 minutes. That holds even if a sale is still years away for you.

Book a slot with Jörn Take the self-assessment first