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Investcorp acquires HWG

Investcorp Technology Partners has acquired a majority stake in HWG, an Italian cybersecurity company.

Investcorp Technology Partners has acquired a majority stake in HWG, an Italian cybersecurity company. No financial terms were disclosed.

PRESS RELEASE

London, 1 March 2022 – Investcorp Technology Partners (“ITP”), a leading European technology investor, today announces that it has acquired a majority stake in cybersecurity company HWG s.r.l. (“HWG” or “the Company”). HWG co-founder and CEO, Enrico Orlandi, and the other co-founders, Claudia Rangogni, Andrea Boni and Andrea Pomari, will continue to lead the Company, having retained their ownership in HWG alongside Investcorp.

Established in 2008 and headquartered in Verona, Italy, HWG is a leading independent provider of cybersecurity solutions in Italy, with strong expertise in security operations centre solutions. HWG’s solutions help companies proactively prevent, manage and reduce the impact arising from modern cybersecurity threats in an increasingly connected and digital world. HWG today protects the mission-critical systems of a loyal and diverse customer base comprising enterprise and mid-size companies active across multiple industries, including finance, fashion, automotive, telecommunications and manufacturing.

Commenting on the investment, Gilbert Kamieniecky, Head of Investcorp’s Technology Private Equity business, said: “HWG offers a distinct platform in an important and growing sector, and has proven its cybersecurity capabilities as a leading independent provider in the Italian market. We are excited to partner with Enrico Orlandi and the team, who developed HWG into what it is today, to unlock the next level of growth for the company.”

Roberta Vezzoli, Principal at Investcorp, said: “We have ambitious plans to support HWG as the Company continues to grow in its core markets and expand into new verticals, both organically and inorganically. We are looking forward to working collaboratively to help HWG reach its full potential.”

Enrico Orlandi, founder and CEO of HWG, added: “The demand for expertise and capabilities to prevent breaches and minimise impact from attacks continues to be on the rise. Our business has experienced exceptional growth over the past few years, thanks to HWG’s broad offering, its talented and passionate people and its customer support. ITP has an exceptional track record of partnering with and growing security and technology companies, and we look forward to their support to become an even stronger partner to our clients and expand our international footprint to help companies defend themselves against cybercrime”.

The investment in HWG is the first investment from Investcorp Technology Partners’ Fund V and marks the third cybersecurity transaction that ITP has had involvement with in less than two years following the acquisition of Germany’s leading cybersecurity provider, Avira, in 2020, which was subsequently sold to NortonLifeLock.

ITP has established a market leading position of investing in lower mid-market technology companies with a specific focus on the Data / Analytics, IT Security and Fintech / Payment sectors. ITP specialises in investing in businesses like HWG that focus on B2B end markets, solve mission-critical problems, have the potential to expand internationally and feature multiple avenues for potential growth and significant cash-flow generation alongside quality recurring revenue and good revenue visibility. Other investments by ITP include: Rtekk, a leading, innovative and award-winning payments platform and e-wallet solutions provider; softgarden, a Human Resources software provider; Calligo, a proprietary cloud solution company; Ageras, an online marketplace matching SMEs with professional service providers, Impero, a provider of online student safety and classroom and network management software; Ubisense, the enterprise software and sensor Real-Time Location Solutions platform and Contentserv, a product information management solutions provider.

About Investcorp
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes, infrastructure and insurance asset management. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.

We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach. In January 2022, Investcorp issued its 2021 Responsible Business Report which outlines its Environmental, Social, and Governance (ESG) highlights for 2021 and specific initiatives the Firm implemented to meet its goals: https://www.investcorp.com/esg/.