iC Consult Group Acquires Kapstone Technologies LLC
Buyside Advisor to iC Consult Group
7 Mile Advisors Announces iC Consult Group, A Carlyle Group Portfolio Company, Has Acquired Kapstone Technologies LLC
7 Mile Advisors advised iC Consult Group
CHARLOTTE, NC – iC Consult Group (“iC Consult”), the leading global service company in the field of Identity & Access Management (IAM), has acquired Kapstone Technologies LLC, a global provider of identity and security services. 7 Mile Advisors acted as the exclusive buyside advisor to iC Consult through the transaction.
“We greatly appreciate 7 Mile’s continued partnership in our vision to grow iC Consult into the global leader in the IAM space. They helped us in our US expansion through two acquisitions last year and when we expressed an interest in expanding our offshore and managed services capabilities, they delivered once again with Kapstone. We’re excited to have Kapstone and their strong management team on board as we continue to grow iC Consult globally.” commented Oliver Koethe, Associate Director at The Carlyle Group.
Kapstone is a renowned IAM and security specialist headquartered in Somerset, New Jersey, U.S., with subsidiaries in Canada and India. Founded in 2013, the team offers deep expertise in Identity & Access Management, Privileged Account Management (PAM), Identity SOC, Compliance Reporting and API Security including multiple respected industry experts and thought leaders in Enterprise Security.
Jürgen Biermann, CEO of iC Consult Group, commented: “I‘m super excited about this strategic acquisition. As an established managed services provider with a comprehensive portfolio of managed services and product accelerators, Kapstone will significantly expand and enhance our global managed services offering as well as our capacity and ability to execute in the United States. The growing organization in India – a great pool of talented and experienced IAM experts – will allow us to offer attractive offshore capabilities to global customers in particular. Kapstone has already started working closely together with our existing teams in Europe, North America, and China to provide truly global 24/7 managed services.”
Heiko Hütter, Senior Executive for Managed Services at iC Consult, says: “Kapstone offers a powerful suite of next-generation identity services based on best-of-breed technologies from leading IAM vendors. Their customer-focused approach is very similar to iC Consult’s own vision, and it will be exciting to combine our strategies and portfolios to maximize value to our customers.”
Harish Jangada, Managing Partner and Co-founder of Kapstone, says: “In today’s world of accelerated cloud adoption and innovation, Cybersecurity, driven by Identity, forms an important pillar of business transformation. This acquisition enables us to deliver mission-critical, transformative, scalable, and resilient IAM solutions for our customers through a global network of highly skilled IAM practitioners.”
“Being part of iC Consult Group will allow Kapstone to broaden its scope and operate beyond the horizons of the U.S. market and expanding its global managed services offering. With iC Consult, Kapstone will continue to perpetuate its culture of prioritizing customer relations and encouraging passion for technology.” so Pravin Patil, Managing Partner and Co-founder.
Saurabh Sharma, Managing Partner and Co-founder adds: “In iC Consult, we have a like-minded partner who shares our passion for service excellence, customer enablement, and employee empowerment. As the largest IAM-focused organization worldwide, our vision is to drive the next wave of IAM innovation and excellence to enhance customer’s cyber security.”
The Kapstone acquisition marks iC Consult’s third major acquisition: The company – which is held by The Carlyle Group and Jürgen Biermann as the major shareholders – had acquired the IAM specialists ICSynergy (Plano, Texas) and SecureITsource (Roswell, Georgia), and established itself as the leading pure-play IAM services provider worldwide.
7 Mile Advisors continues to act as a buyside advisor to iC Consult as the company seeks additional acquisitions in the IAM space. For more information on trends in Identity and Access Management, or to see other representative buyside transactions 7 Mile has completed, visit www.7mileadvisors.com.
About 7 Mile Advisors
7 Mile Advisors provides Investment Banking & Advisory Services to the Business Services and Technology Industries globally. 7 Mile Advisors advises on M&A and private capital transactions, and provides market assessments and benchmarking. As a close-knit team with a long history together and a laser focus on our target markets, 7 Mile Advisors helps its clients sell companies, raise capital, grow through acquisitions, and evaluate new markets. All securities transactions are executed by 7M Securities, LLC, member FINRA / SIPC. For more information, including research on the M&A markets, visit www.7mileadvisors.com.
About iC Consult
iC Consult Group, headquartered in Munich, Germany, is the leading independent consultancy, systems integrator, and managed services provider for Identity & Access Management (IAM). The service portfolio covers Managed Services for IAM including advisory, architecture, implementation, integration, support, and operations. iC Consult Group has more than 800 employees and offices in Germany, the USA, the UK, India, Switzerland, Austria, Spain, Bulgaria, Canada, and China.
Kapstone is a renowned IAM and security specialist headquartered in Somerset, New Jersey, U.S., with subsidiaries in Canada and India. Founded in 2013, the team offers deep expertise in Identity & Access Management, Privileged Account Management (PAM), Identity SOC, Compliance Reporting, and API Security including multiple respected industry experts and thought leaders in Enterprise Security. More information at www.kapstonellc.com