Quantum Capital Partners exits Eltec IT, a company specialising in technology solutions for IT infrastructures, after an intense turnaround process. The company has been acquired by Esare Sistemas, a Spanish ICT group.
About Eltec IT
Founded in Madrid in 1985, Eltec IT Services is a company specialising in the provision of technological solutions and services for the support and maintenance of ICT infrastructures and ATMs.
The company, which employs around 600 people, offers services to national groups, multinationals and public institutions, providing integrated solutions for process optimisation and cost reduction.
Eltec IT was acquired by T-Systems in 1999, with which it merged a year later to form T-System Eltec. In 2015, QCP bought T-System Eltec's 100% from Deutsche Telekom and changed its name to Eltec IT Services.
About Quantum CP
Quantum Capital Partnersfounded by Steffen Görig, is a venture capital fund based in Munich, Germany, targeting investments in Western Europe across a broad spectrum of industries.
This German fund invests in companies in special situations, mainly carve-outs or spin-offs of large global corporations, where reputational risk plays a key role. Within this business segment, Quantum has done transactions with corporations such as Airbus, DB, Bosch, Tenneco, Stora Enso, Deutsche Telekom, Arconic, Siemens, Dürr, Honeywell, Henkel, Eiffage, Norsk Hydro, etc. However, Quantum also offers transaction-related services for family-owned companies or bankruptcy situations with very defined investment angles.
Quantum Capital Partners currently has subsidiaries in Spain, Germany, France, Italy and Switzerland, with a turnover of €1.1 billion.
Corporate Finance Analysis of Eltec IT
The analysis of Eltec IT's financial situation over the last years shows negative data which explains to some extent the intervention of Quantum CP. The Spanish company shows negative figures both in revenue growth and in its profitability ratio. The latter ratio shows, however, a considerable improvement compared to the previous year.
Quantum CP sells Eltec IT
Quantum Capital Partners has sold Eltec IT Services to Esare Sistemas, the Spanish ICT group, for an undisclosed sum. The German fund bought Eltec's 100%, a subsidiary of T-Systems Iberia, from Deutsche Telekom in 2014.
The sale follows an intensive turnaround process carried out by Quantum's operations team, which specialises in corporate transactions in special situations.
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