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HgCapital acquires Germany-based Qundis Group

3 May 2012

European private equity firm HgCapital has acquired German submetering company Qundis Group, from financial investor Capcellence.

The Qundis management team will reinvest a substantial portion of their stake as part of the transaction.

The company was created in 2008 by the merger of QVEDIS (previously part of Siemens) and KUNDO SystemTechnik. Headquartered in Mühlhausen, the company has approximately 220 employees. Alongside its presence in Germany, Qundis has distribution in Italy with further coverage in Slovenia, the Czech Republic, France, Turkey and Russia .HgCapital plans to support Qundis’ management team in expanding across these geographies.

The acquisition of Qundis represents a continuation of HgCapital’s sector-driven investment strategy, according to Justin von Simson, head of HgCapital’s industrials team and its Munich office.

He said, “The combination of a strong management team that has successfully developed the Qundis business model internationally, alongside its outstanding technological expertise and excellent customer relationships makes Qundis a very attractive company to partner with. In applying our specialist knowledge of the industrials sector, we are keen to back innovative companies within high growth markets and feel there is considerable potential for Qundis to continue to grow its business across Europe.”

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