SGT Capital completes the acquisition of Utimaco, a leading provider of Cybersecurity and Compliance Solutions


  • Utimaco is a leading global provider of high-security technology for cybersecurity and compliance solutions
  • Due to its strong market position and the increasing digitalization of economies and societies worldwide, Utimaco has excellent growth prospects
  • SGT Capital’s collaborative approach is complemented by the continued (minority) stake of Utimaco management, employees and EQT; alongside Bain Capital Credit and Tyrus Capital, as well as other institutional investors including Capital Dynamics, Commonfund, Flandrin Capital, University of Wisconsin Foundation, and UBS Global Wealth Management
  • Utimaco’s recent acquisition of Celltick, a leader in public-warning and mass notification systems, already demonstrates SGT Capital’s support of Utimaco’s growth strategy
  • SGT Capital received necessary clearance from the Committee on Foreign Investment in the United States (CFIUS) in late 2021; as well as approvals from the United Kingdom’s Department for Business, Energy & Industrial Strategy in February 2022; and Germany’s Federal Ministry for Economic Affairs and Climate Protection in early May 2022


FRANKFURT, Germany, Jun. 1, 2022 -- SGT Capital is pleased to announce that it has completed its acquisition of Utimaco Verwaltungs GmbH (“Utimaco” or the “Company”) from the EQT Mid Market Europe fund (“EQT Private Equity”).

Headquartered in Aachen, Germany, and Campbell, California, United States, Utimaco is a leading platform provider of high-security technologies for cybersecurity and compliance solutions. The Company provides on-premises and cloud-based hardware security modules and solutions for key and identity management, data protection, and data intelligence, for regulated critical infrastructures.

In addition to receiving clearance from the Committee on Foreign Investment in the United States (CFIUS) in November 2021, SGT Capital’s ownership of Utimaco has received approval from the United Kingdom’s Department for Business, Energy & Industrial Strategy, and clearance from Germany’s Federal Ministry for Economic Affairs and Climate Protection.

Since announcing its acquisition by SGT Capital, in April 2022 Utimaco acquired Celltick, a global leader of Public Warning Systems and the world’s largest cell broadcast-based products provider, in terms of deployments and audience reach. Utimaco’s acquisition of Celltick demonstrates already SGT Capital’s support of Utimaco’s growth strategy.

Joseph Pacini, Co-Managing Partner of SGT Capital, said: “With an increasingly connected world comes the continued increase of cybersecurity risks. As a market leader, Utimaco is best poised to address these risks and protect its clients as it further accelerates its global growth. There are excellent global growth opportunities for Utimaco, and we are excited to collaborate with CEO Stefan Auerbach and the entire Utimaco team, as well as EQT Private Equity, Bain Capital Credit and the Utimaco Advisory Board to achieve Utimaco’s growth potential.

Stefan Auerbach, CEO of Utimaco, said: “We are moving at pace into Utimaco’s next phase of growth, and SGT Capital’s ownership and support is key to sustaining our performance and momentum. Technical innovation and international growth remain keys to our success, and we are grateful to our clients, colleagues and partners for their support and commitment.

Carsten Geyer, Co-Managing Partner of SGT Capital, said: “As a market-leading business that comprises talented employees around the world, Utimaco is poised for enduring success, as its technology helps make the digitization of business and society more secure. The Utimaco transaction demonstrates SGT Capital’s unique capability to identify and invest in market leading businesses and enhance their value through global growth initiatives.

SGT Capital was advised by EY, Willkie Farr & Gallagher, and Raymond James (Private Capital Advisory).


Tristan Peniston-Bird, London

Florian Bamberg, Frankfurt

Lauren Katz, New York

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About SGT

SGT Capital is a global alternative investments firm with offices in Germany and Singapore that seeks superior returns by driving the internationalisation of mid-market businesses in combination with more traditional private equity value creation strategies. SGT Capital is led by Joseph Pacini, Carsten Geyer, Christoph Gerlinger, Dr Marcel Normann, Marianne Rajic and Jens Dino Steinborn. The principals of SGT Capital are seasoned professionals from market leading private equity, asset management, investment banking, and consulting firms, bringing over 100 years of investment experience and experience in managing more than US$40 billion to our investors. Together, they have an outstanding track record globally, most of them having jointly worked on major transactions in key jurisdictions in the last five years.

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About Utimaco

UTIMACO is a global platform provider of trusted Cybersecurity and Compliance solutions and services with headquarters in Aachen (Germany) and Campbell, CA (USA). UTIMACO develops on- premises and cloud-based hardware security modules and key management solutions as well as data intelligence solutions for regulated critical infrastructures. UTIMACO is one of the world's leading manufacturers in both of these market segments. With more than 470 employees around the globe, UTIMACO creates innovative solutions and services to protect data, identities and communication networks with responsibility for global customers and citizens. Customers and partners in many different industries value the reliability and long-term investment security of UTIMACO’s high-security products and solutions.

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