Today Proact has signed a definite agreement to acquire German IT company ahd GmbH & Co. KG, a specialist in managed services, offering cloud solutions, consulting and on-premises services for its customers. The acquisition, that is expected to close during the day, will strengthen Proact's capabilities and presence in the German market.
Acquisitions are an important part of Proact's growth strategy, with the purpose of broadening its services and expanding its business in the company's key markets. ahd will be the fourth acquisition over a two-year period wherein Proact acquired PeopleWare ICT Solutions BV in the Netherlands, Cetus Solutions Ltd. in the United Kingdom and Conoa AB in Sweden, all of which have brought new multicloud services and expertise to the company.
Through the acquisition of ahd, Proact will establish itself in additional and important regions of Germany - one of Europe's largest IT markets - while also broadening the portfolio of services for the organisations' joint customers.
Jonas Hasselberg, President and CEO of Proact IT Group AB, comments:
"The people at ahd demonstrate impressive knowledge and expertise in data management with a market-leading managed cloud services and multicloud offering. This excellent combination provides us with a very strong position to continue serve our German customers. We are both companies that have great market reputations and long-standing relationships with large and mid-sized enterprises in the region. I'm therefore very excited to welcome our new colleagues to Proact."
Andreas Rother, CEO and one of the founders of ahd GmbH & Co. KG, comments:
"Joining Proact is an exciting opportunity which strengthens our presence in Germany as a leading managed services provider. The combined energy of Proact and ahd will be a formidable force in the German marketplace, delivering complimentary services and reinforcing our customer commitment. ahd strongly identifies with Proact's multicloud strategy, and we are determined to tap into our combined innovative spirit and knowledge in this area to drive growth and customer satisfaction. I am proud and excited that ahd is now a part of the Proact family."
The purchase price amounts to EUR 26.2 million on a cash-free and debt-free basis, which corresponds to 9.0 times EBITA. The transaction is expected to contribute approximately EUR 30 million in increased annual sales for Proact. ahd and its employees will be an integral part of Proact's German operations.
Regarding Proact's M&A momentum, Hasselberg adds: "It's encouraging that we can deliver on our M&A strategy at the current pace, which contributes to our growth and services strategy."
This disclosure contains information that Proact IT Group AB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 26-10-2021 08:30 CET.
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