Triton signs agreement to acquire Swiss IT Security Group
Frankfurt (Germany) / Wettingen (Switzerland) July 09 2021 – Triton Fund V advised by Triton (“Triton”) has signed an agreement to acquire Swiss IT Security Group, a leading cyber security services provider in the DACH and Benelux regions, from Ufenau Capital Partners. Terms of the transaction are not disclosed.
"Triton has a tradition of investing in people-centric services companies with high growth potential and is working in partnership with the management team and employees to unlock such potential. With Swiss IT Security Group, we are now adding a uniquely positioned company to our portfolio, characterized by its exposure to growth markets, leading expertise paired with absolute customer focus. We look forward to investing in the continued growth to build a pan-European cyber security services provider", said Peder Prahl, Director of the General Partner for the Triton funds.
Established in 2017 and headquartered in Wettingen, Switzerland, Swiss IT Security Group today is a leading cyber security services provider in its core markets, providing strategic cyber security consulting and implementation support, managed security services and software solutions. The company is active across all business sectors, serving corporations, SMEs and public institutions by protecting their IT infrastructure and combating cybercrime with specialist solutions and services. Swiss IT Security Group has approximately 500 employees across its 19 offices in Germany, Austria, Switzerland, Belgium and the Netherlands.
“Cyber security has become a mission-critical element of organizations’ day-to-day operations. Swiss IT Security Group is uniquely positioned to address those security demands and has developed into a leader in the space, providing solutions and advice to their customers in an ever-changing environment to safeguard their operations and assets. We are impressed by the group’s performance track record and are excited to further strengthen Swiss IT Security’s positioning and value proposition by adding new service offerings, geographical expansion and entering into adjacent niches, together with the Swiss IT Security team”, says Nadia Meier-Kirner, Co-Head Business Services and Partner at Triton.
"The digitalization of our life is progressing and has further accelerated during the Covid-19 pandemic. The growing digital footprint requires adequate cyber security. At Swiss IT Security, we are committed to protect our customers from cyber security threats and are eager to continue our growth and further expand our footprint. As such, we are very pleased to join the Triton ecosystem, which we view as an enabler to strengthen our service offering and support towards our customers. The wider management team and I are very much looking forward to the partnership”, says Philipp Stebler, CEO Swiss IT Security Group.
About Swiss IT Security Group
Swiss IT Security Group’s vision is to safeguard a world in which all data is adequately protected. Such security needs partners and as the leading cyber security services provider in the DACH and Benelux regions, the company stands for comprehensive security. With approximately 500 own employees, headquartered in Wettingen, Switzerland, the Swiss IT Security Group combines the experience, expertise, resources, and services of a top-class cyber security provider to form a comprehensive service provider. By leveraging innovative solutions and technologies Swiss IT Security Group offers to their customers comprehensive cyber security concepts with a focus on protection, detection and defense.
For further information: www.sits-group.ch/en/
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial & technology, services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.
The 48 companies currently in Triton's portfolio have combined sales of around €17.5 billion and employ around 100,000 employees.
For more information: www.triton-partners.com