Strong alliance for continued growth: TIMETOACT GROUP acquires transformation expert PKS
TIMETOACT GROUP, a leading provider of IT services for medium-sized businesses, large corporations and public institutions in Germany, Austria and Switzerland backed by Equistone Partners Europe, is acquiring software transformation expert PKS Software GmbH, based in Ravensburg. The acquisition is consistent with TIMETOACT GROUP’s specialisation in offering top-quality consultancy and IT services and continues its successful, 15-year buy-and-build story. Both companies’ long-term partnership will now be continued and expanded under the umbrella of TIMETOACT GROUP. PKS’s existing directors Heidi Schmidt and Roland Zurawka will continue to lead the company, while Heidi Schmidt is also reinvesting as a shareholder in TIMETOACT GROUP. The parties agreed not to disclose the details of the transaction.
TIMETOACT GROUP, headquartered in Cologne, currently comprises eight specialised company brands at 16 locations across Germany, Austria and Switzerland: ARS, CLOUDPILOTS, edcom, IPG, novaCapta, synaigy, TIMETOACT and X-INTEGRATE. With around 700 employees, and a comprehensive portfolio of software and consulting services, the digitisation expert primarily concentrates on medium-sized and large companies from industry, finance and the service sector as well as public institutions. The recent conclusion of this acquisition means that PKS, which is based near Lake Constance, will now also strengthen the fast-growing group.
Established in 1991, PKS specialises in the customer-specific development of tailored, business-critical software. Its focus is on optimising mature software landscapes so that companies can collaborate with their customers and suppliers in a way that is efficient, up-to-date and error-free. To this end, PKS’s experts use field-tested methods to prepare comprehensive analyses of existing systems, design appropriate transformation concepts and implement them systematically and professionally using innovative technologies. Transformation expert PKS not only looks after ongoing software maintenance and support, thereby enabling a smooth generational change, but also provides advice and support for the introduction of modern development environments and processes (DevOps) and for the initial and further training of developer teams. PKS generated sales of approximately EUR 10 million in 2021 with around 60 employees.
PKS’s existing directors, Heidi Schmidt and Roland Zurawka, will continue to manage the company. Furthermore, Heidi Schmidt has reinvested in TIMETOACT GROUP, thereby enlarging the group of management shareholders. Existing shareholders of TIMETOACT GROUP, including funds advised by Equistone Partners Europe, are supporting the transaction with fresh capital. Agreement was quickly reached during the bilateral sale process, with synergies and growth potential identified. PKS will develop its planned new office branch in Northern Germany together with TIMETOACT GROUP and will also offer its transformation expertise to the customers of TIMETOACT GROUP. PKS can now also offer its customers the entire service portfolio of TIMETOACT GROUP.
“Joining TIMETOACT GROUP represents a unique opportunity for us and our team. We can also continue to focus on our core competencies, the continued development of mature systems and their future transformation, while simultaneously supporting the portfolio of TIMETOACT GROUP. In this way, our customers can benefit from a broader, end-to-end support profile along the entire software lifecycle,” says Heidi Schmidt, co-director of PKS.
“I am delighted that we are able to support TIMETOACT GROUP with our strong and competent team, creating new and innovative solutions for our customers and working together to further develop our market position in the field of core systems maintenance as well as legacy transformation,” adds Roland Zurawka, co-director of PKS.
“The PKS acquisition enhances our portfolio by adding an essential digital transformation component for our customers. We were impressed not only by the company’s outstanding expertise in the analysis, modernisation and migration of complex software, but also in particular by the entrepreneurial management team, the corresponding corporate culture and the shared perspective in respect of future growth,” says Frank Fuchs, co-director of TIMETOACT GROUP.
Felix Binsack, co-director of TIMETOACT GROUP, adds: “Particularly with banks, logistics providers and insurance companies, many of the applications that map the primary processes and core business are getting long in the tooth and urgently need to be modernised and future-proofed. Thanks to its extensive experience, methods and tools, PKS is not just a service provider but a trusted adviser for the modernisation of its customers’ IT systems.”
Frank Fuchs and Christian Koch are responsible for the transaction on the part of TIMETOACT. TIMETOACT was advised during this transaction by AC CHRISTES & PARTNER (Financial & Tax) and law firm de Angelis Rechtsanwälte (Legal). The PKS shareholders were advised during the transaction by tax consultants Steuerkanzlei Serafini (Financial & Tax) and law firm Geißler Rechtsanwälte (Legal).
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