DPE sells Elatec: Ready for the next growth phase
Munich, May 31, 2023 – Deutsche Private Equity (DPE), together with Summit Partners, has sold its stake in Elatec, the leading international developer and provider of a range of secure physical and digital access solutions, to SGT Capital. SGT Capital is a global private equity firm that invests in mid-sized, market-leading companies and supports existing management teams in realizing their ambitions for accelerated international expansion.
DPE invested in Elatec in 2016 and successfully developed the company in a very short period of time: revenue and headcount nearly doubled in just two years, market leadership in Europe was strengthened, the presence in the US was expanded, an Asian growth base was created in China and Japan, and additional customer groups were developed. In 2018, DPE therefore already heralded the next stage of its development by handing over a majority stake in Elatec to Summit Partners, an international growth investor with extensive expertise in the global expansion of high-growth technology companies.
“Elatec has developed excellently with DPE and, following Summit Partners’ investment, our excellent collaboration has enabled us to achieve the goals we set much faster than planned,” said Dr. Frank Müller, Managing Director and Partner at DPE. “With SGT Capital, the pace for Elatec’s further international expansion will now be increased even further. This will also enable the company to meet the need for increased physical cybersecurity.”
Currently, Elatec employs more than 150 people worldwide and supports more than 60 RFID card technologies, as well as BLE and NFC. The company’s products are certified in 110 countries and enable end-to-end encryption. SGT Capital’s investment is expected to further accelerate growth and drive innovation in the areas of electromobility, smart business, smart office and smart city.