The Germany Private Equity Team advised Summit Partners on its agreement to sell its shares in German-based Elatec group, a leading international developer and supplier of secure access solutions, to SGT German Private Equity. The transaction is expected to close later this year, subject to foreign investment control approvals.
Summit Partners was founded in 1984 and is a global alternative investment firm that is currently managing more than USD 35 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit invests across growth sectors of the economy and has invested in more than 500 companies in technology, healthcare and other growth industries.
ELATEC is a leading international developer and supplier of secure access solutions, including contactless (radio frequency identification ("RFID"), Bluetooth low energy, and near-field communication) reader hardware for user identification and a proprietary cloud-based internet-of-things platform with software as a service device management solutions.
The team was led by Dr. Jan Schinköth and included Sebastian Walczak, Silvia Rava, Dr. Oded Schein, Alexander Apostolopoulos, Philipp Lauer, Folko Moroni, Daniel Wagner, Eram Khan, Sophie Entwisle, Kevin Walsh, Jacob Osborn, Ce Li, Justin C. Pierce and Krishnan Abhishek.
For more details, please read the press release.