Successful company sale of a cloud hosting company

cionix GmbH
IT services and cloud services
Jan Schreiber
Co-CEO

Relevant facts

Year of foundation

2000

Size of the company

8 employees

Project duration

13 months

Sales year

2023

Initial situation

cionix GmbH ("cionix") is a highly specialized IT infrastructure provider based in Brandenburg, Germany. The company develops systems and implementations in the field of network planning, firewall security and data protection. The range of services includes hosting and management of enterprise level servers, outsourcing of IT infrastructure and network and security equipment. After more than 20 years as managing director and owner, Jan Schreiber began to look more intensively at succession in his company in the fall of 2021. CARL was recommended to him through his bank advisor at Deutsche Bank. After several discussions with CARL's advisors, the owner gained a clear understanding of the upcoming process and decided to sell directly with the turn of the year 2022. For the sale, it was particularly important to Jan Schreiber that his previous team at cionix as well as the current location in Brandenburg would be retained after a sale. In order to provide the best possible advice, CARL decided to carry out the project together with partner consultant Lars Mackel from 2Gedanken GmbH.

Procedure

The project went according to plan from the very beginning. After preparing the sales documents and jointly drawing up the list of potential buyers (longlist), CARL and Lars Mackel received two indicative offers for the company just a few months after the start of the project. In evaluating the offers, the Advisers and the owner also focused primarily on the corporate culture and a suitable personal chemistry between the cionix team and the interested buyers. After a successful selection for the suitable prospective buyer, the project entered the final negotiation phase. In this phase, expertise and tact were necessary to avoid that the numerous additions in the contract documents and the resulting delays in the process lead to uncertainties of both contracting parties. Furthermore, during the same period, the advised buyer dogado GmbH ("dogado group") was sold by its previous owner, the investment company Triton, to the investment companies Cinven and Ontario Teachers' Pension Plan Board ("Ontario Teachers'"). For this, it was necessary to have a good understanding of the process in order to be able to map the requirements of all parties accordingly.

Result

After successful negotiations, the sole owner and CEO Jan Schreiber sold all shares in cionix to the dogado group, which is held by the associated companies Civen and Ontario Teachers'. Together with the other investment group.ONE, the investment companies are building a leading provider of online presence solutions in core Europe. The team and the current location in Brandenburg will continue to exist after the sale. Mr. Schreiber will continue to be available for the company for a transitional period.

"It was important for me that our current team and the site in Brandenburg remain intact after the sale. My Advisers at CARL and Lars Mackel understood this from the very beginning and gave me excellent support throughout the entire process. Now I'm looking forward to the new chapter."
Jan Schreiber
Co-CEO

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