AURELIUS wins Turnaround, Restructuring & Insolvency (TRI) Award for successful turnaround of Getronics
Munich/London, November 2018 – AURELIUS Equity Opportunities SE & Co. KGaA (ISIN DE000A0JK2A8) has won the Turnaround, Restructuring & Insolvency (TRI) Award (https://www.creditstrategy.co.uk/triawards/triawards/t-r-i-awards) for its successful turnaround of Getronics. AURELIUS acquired Getronics in 2012 from KPN in the Netherlands. In early July 2017 AURELIUS sold Getronics to strategic Investor Bottega InvestCo S.à r.l. for EUR 220 million. The transaction was AURELIUS’ largest exit to date and brought AURELIUS a cash multiple of 18.5 x on the capital invested. This is the eleventh time this highly-regarded award has been given this year.
Dr. Dirk Markus, Chairman of the Executive Board of AURELIUS Equity Opportunities, said “We are delighted by this renewed recognition for our investment in Getronics. In December 2017 we already received the Private Equity Turnaround of the Year Award for it. Through the rigorous operational efforts of our Task Force, the strategic realignment of the product portfolio and the right expansion steps, including add-on acquisitions, we were able to develop the company successfully within five years and ultimately divest it very profitably.”
Strategic realignment and higher growth of Getronics under the AURELIUS umbrella
AURELIUS acquired ICT service provider Getronics in May 2012 from KPN in the Netherlands, and since that time has positioned it as a dependable information and communications technology partner for medium to large companies, combining local accessibility with global reach. The service portfolio was tightened and focused on high-margin products with future potential. Getronics’ global presence received a noticeable boost by the reconfiguration of the Global Workspace Alliance (GWA) together with US partner company CompuCom. Service offerings standardized across all Alliance members brought a lasting increase in profitability, as well as new growth opportunities. Five strategic add-on acquisitions during its time with AURELIUS allowed the Getronics Group to expand geographically as well as in its service portfolio. While an AURELIUS Group portfolio company, the staff count of the Getronics Group grew by over 20 percent.