Mobility and security specialist BLAUD of Utrecht has been acquired by CWSI Group of Ireland. Hogenhouck m&a advised BLAUD’s shareholders in this transaction.
Synergy in mobility and security
BLAUD provides services for a wide range of mobile devices and mobile security solutions and partners with leading software, hardware and cybersecurity service providers. CEO Thierry Lammers laid the foundation for BLAUD in 2007, together with Roland Hameeteman and Rutger Stekelenburg, founders of the e-office group. BLAUD develops highly secure mobile applications for more than 100 large organizations in the public and private sectors, such as the Amsterdam UMC Hospital, Smurfit Kappa and the Tax Administration, and also successfully collaborates with partners.
Big brother in mobile expertise
CWSI Group – headquartered in Dublin – is a specialist in security and compliance solutions for the modern workplace and has been named a Microsoft Gold Partner five times. Thierry Lammers on this partnership: “CWSI and its CEO Ronan Murphy are no strangers to me. On the contrary. From the Enterprise Mobility Experts Alliance (EMEA), I have known Ronan and his company for almost five years. Actually, CWSI is BLAUD’s big brother when you look at knowledge, expertise and culture. Its DNA perfectly aligns with BLAUD’s values. The acquisition creates opportunities to expand the portfolio in the Netherlands and England and allows us to benefit from partnerships with parties such as Telefonica, Telstra and Hutchison Whampoa.”
Subsidiary within CWSI
BLAUD will become a wholly owned subsidiary within the CWSI Group. The 20 employees, including CEO and co-founder Thierry Lammers, joined the group. Thierry Lammers remains responsible for day-to-day management and software development activities. “I look forward to working with CWSI to create value for our customers and solve their security challenges,” Thierry Lammers said in a release about this next move.
Ronan Murphy, co-founder and CEO of CWSI, said, “I am delighted to welcome Thierry and the team at BLAUD to the CWSI Group. There is a strong overlap in our expertise, solutions and corporate cultures. We both have strong positions in the criminal justice and public health sectors. Bringing our two companies together will create one of the largest and most experienced mobile security teams in Europe.”
Strong financial position
CWSI has ambitious growth plans and aims to become a leading pan-European cloud and mobile security provider. To complete this acquisition and continue to grow, CWSI has secured a new round of financing of €21 million from Castlegate Investment. Castlegate is a private equity and family office firm. In addition, a new credit facility was taken out with a major Irish bank.
Ronan Murphy on this financing: “This exciting new chapter of the CWSI story would not be possible without the support of Castlegate Investment. I look forward to delivering on their confidence in us with our buy and build strategy to become a leading pan-European provider of cloud and mobile security solutions.” Following the acquisition, CWSI’s first in continental Europe, the outlook is for group sales to grow to more than €20 million by 2022.
Cultural and content match for continued growth
Iris van Weel, director at Hogenhouck m&a, on this transaction: “It is a privilege to be the m&a advisor to the shareholders of BLAUD. Having completed a previous transaction, it was a pleasure to assist in this exit for BLAUD and its alliance with CWSI. There is a good cultural fit between the companies and on a personal level, which is a solid foundation for further growth in this business area.
