Deal announcement

goetzpartners advised H.I.G. Capital

14. März 2024

goetzpartners advised H.I.G. Capital on its sale of ICG Group with a Commercial Vendor Due Diligence

goetzpartners advised H.I.G. Capital ("HIG") with a Commercial Vendor Due Diligence on the sale of ICG Group ("ICG"), a leading provider of installation and maintenance services for fiber-optic, mobile communications, and electricity networks in Germany. ICG was acquired by SPIE Group, a European leader in multi-technical services in the areas of energy and communications, listed on the Paris stock exchange (Ticker: SPIE). The transaction is subject to clearance by antitrust authorities.

The project included an extensive analysis of ICG's business models, internal value chains, and client relationships. goetzpartners developed a comprehensive bottom-up market model to quantify and segment the size and growth of the addressed fiber-optic, mobile communications, and electricity network markets, and to assess the sustainability of respective key drivers. ICG's combined unique value proposition was underlined by benchmarking competitors' service offering, and performance along key purchasing criteria.
The Commercial Vendor Due Diligence was concluded with an assessment of ICG's topline and gross margin planning including a detailed depiction of project profitability and project pipeline.

The project complements our extensive track record of providing strategic and commercial advisory services in the telecommunications and infrastructure sectors.

About ICG Group
ICG Group, headquartered in Leonberg (Germany), combines the competencies of the leading communication infrastructure service providers: Infratech, comcross, Schwan, TripleA Networks, and DPE. The Group covers the entire value chain from planning and construction to installation and maintenance of infrastructures for fiber-optic, mobile communications, and electricity networks. All units of the Group are characterized by a strong position in their respective segments and long-standing customer relationships. The ICG Group has more than 700 employees in 16 locations throughout Germany, mainly, as well as in the Netherlands, and Croatia.

About H.I.G Capital
H.I.G. Capital is a leading global alternative investment firm with $60 billion of capital under management. Based in Miami, and with offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, and Dubai, H.I.G. specializes in providing both debt and equity capital to middle market companies, utilizing a flexible and operationally focused/value-added approach. Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion.

Transaction team:

Dr. Gerrit Schütte
Managing Director

Gerrit Bückins

Maximilian Knirsch
Senior Consultant

Richard Nowack

Jannis Sandow

Urban Maier
Associate Consultant

Marc-Philippe Leitzbach
Associate Consultant