European technology investor Investcorp Technology Partners (ITP) has acquired a majority stake in Italian cybersecurity company HWG. This is the first investment from ITP’s Fund V and marks the third cybersecurity transaction that the company has made in less than two years.
Commenting on the investment, Gilbert Kamieniecky, head of ITP’s 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.”
ITP has been investing in lower mid-market technology companies with a specific focus on the data, analytics, IT security, fintech and payment sectors. It specialises in investing in businesses which 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.
Established in 2008 and headquartered in Verona, the cybersecurity solutions provider in Italy, HWG helps companies proactively prevent, manage and reduce the impact arising from modern cybersecurity threats. The company protects mission-critical systems of diverse customer base comprising enterprise and mid-size companies active across multiple industries, including finance, fashion, automotive, telecommunications and manufacturing.
Enrico Orlandi, co-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. 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."