Xindao
CORESEC is a leading European player in cybersecurity providing value-added IT security services to large corporations (eg. Ikea, Volvo, Sony), In addition to value added distribution and integration of hardware and software, CORESEC also provides a comprehensive range of professional services in the cybersecurity field such as penetration testing and Managed Security Services.
Value creation agenda:
The company was sold to SecureLink, a portfolio company of InvestCorp., at the end of 2016.
Value creation agenda:
- Focus on cybersecurity: Spin-off of strongly growing cybersecurity business (“CORESEC”) and
disposal of other IT-service activities - Development into a full-service cybersecurity IT-provider: Expansion of the high margin service business in addition to value-added reselling
- Partner with management: Broad participation program for CORESEC’s management and key employees (management / key employees held +20% of equity)
- Organic growth and efficiency: Implementation of a new ERP system and improvement of financial transparency, process efficiency improvement initiative (110 measures) and development of a new sales approach (incl. implementation of CRM tool)
- Buy & Build: Internationalisation and acceleration of external growth via acquisition of iSecure (Sweden), WeSecure (Netherlands) and Gateway Security (Norway).
Digitalization; investments in and implementation of additional IT tools to strengthen connectivity with key accounts and integration into their processes.
Results:
During Perusa’s holding period, CORESEC’s revenues grew by c. 60% to more than EUR 80m and the EBITDA increased 2.5-times.