Gloster
Gloster - a publicly traded international IT specialist with annual revenues approaching €30 million and a presence across four continents - was supported by Absolvo in its M&A buy-side strategy in three key acquisitions between 2019 and 2021.
Deal summary
Our client, Gloster, is a publicly traded IT integrator with now customers across four continents. Throughout the years Absolvo supported Gloster’s M&A buy-side strategy, supported the approaches and contacting, which led to 7 acquisitions supported. Example: In 2021, the company acquired KingSol, a leading player in the domestic cloud technology market and a multiple Microsoft Gold Partner, as well as Minero IT Hungary, a top software developer and IT supplier for the German automotive industry.
Deal rationale
The acquisitions enabled Gloster to advance its strategic goal of becoming a key player in the regional IT market by strengthening its technological capabilities, diversifying its services in cybersecurity and IT, launching its cloud business division, and capitalizing on exponential growth opportunities in the digitalized European automotive industry. Gloster’s buy and build strategy enabled them to 10x their revenue compared to the time of our first meeting…
Absolvo's contribution
Our M&A team provided comprehensive advisory services to Gloster, including advising on their acquisition strategy, identification of potential target companies, approaching the approved targets, managing the discussions and Q&A phase, preparation of company valuation, validation of the financial plan, advising on deal structure and LOI, conducting financial and tax due diligence, structuring key investment terms, negotiating SPA and SHA, and support in the transactions’ signing and closing.
The deal team
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