POELLATH advises the management of Elatec Group on sale to SGT German Private Equity
Private equity funds managed by SGT Capital Pte. Ltd. (“SGT”) have acquired Elatec Group (“Elatec”), a leading international developer and provider of secure access management solutions, in a leveraged buyout. The seller was U.S. private equity firm Summit Partners. The closing of the transaction is still subject to customary regulatory approvals. The closing of the transaction is expected to be completed before the end of this year. POELLATH provided comprehensive legal advice to the management of the Elatec Group in connection with the sale regarding the management participation.
Founded in 1988 and headquartered in Germany, Elatec develops state-of-the-art contactless reader hardware and firmware for user identification, as well as a cloud-based integrated Internet-of-Things platform with SaaS solutions for device management. The company’s technology is used in a variety of industries and applications, including physical access control, vending machine authentication, electric vehicle charging, vending and issuance, driver identification and secure printing. Its products are certified in 110 countries and enable secure end-to-end encryption. The company employs more than 150 people and has more than 1,200 customers worldwide.
SGT Capital is a global private equity firm that invests in mid-sized, market-leading companies and helps existing management teams realize their ambitions for accelerated international expansion. Summit Partners is a global alternative investment firm that currently manages more than USD 35 billion of capital invested in growth equity, fixed-interest securities and public equity.
POELLATH provided comprehensive legal advice to the management of Elatec Group in connection with the sale regarding the management participation with the following Munich team: