- Björn Frauen, STAGIL’s CEO and co-founder, will become co-MD of catworkx Germany and a shareholder in TIMETOACT
- STAGIL is TIMETOACT’s sixth acquisition since Equistone’s investment
- Equistone is a European private equity investor based in London
TIMETOACT Group, backed by Equistone Partners Europe, has acquired STAGIL, an Atlassian Platinum and Enterprise Solution Partner.
No financial details of the transaction were disclosed.
STAGIL is headquartered in Wiesbaden, Germany.
STAGIL’s addition will expand TIMETOACT’s consulting portfolio, managed under the catworkx brand, into a partner in German-speaking countries, according to a release.
Björn Frauen, STAGIL’s CEO and co-founder, will become co-MD of catworkx Germany and a shareholder in TIMETOACT.
Equistone acquired a majority stake in TIMETOACT in June 2021.
STAGIL is TIMETOACT’s sixth acquisition since Equistone’s investment.
“STAGIL’s expertise in agile product development will prove critical in supporting and accelerating our customers’ switch to the cloud,” said Felix Binsack, Co-MD of TIMETOACT. “Additionally, we are excited to partner with STAGIL’s US subsidiary to expand our group’s presence in North America.”
TIMETOACT is a provider of IT services for medium-sized companies, corporations, and public institutions. The company is headquartered in Cologne, Germany.
catworkx is an Atlassian Platinum and Enterprise Solution Partner with offices in Germany, Austria, and Switzerland.
Equistone is a European private equity investor that invests in mid-sized businesses with enterprise values of between €50 and €500 million. The firm is based in London.
Frank Fuchs and Christian Koch are responsible for the transaction on the part of TIMETOACT GROUP.