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12/2022

CYRES CONSULTING acquired by SESA GROUP

GERMANY IT Services / Consulting & Integration / Cybersecurity Services EV 0M - 15M EUR

Context

The transaction involves the majority stake acquisition of CYRES Consulting Services GmbH by Var Group S.p.A. (a subsidiary of SESA), a deal designed to bolster the acquirer’s Digital Security division and scale its specialized automotive cybersecurity capabilities within the DACH region. This industrial partnership is primarily driven by the significant acceleration in digital security demand across the automotive sector, necessitated by the widespread adoption of electrification, vehicle connectivity, and stricter international compliance standards. Structurally, the acquisition provides the acquirer with a specialized engineering-centric team, effectively enlarging its European hub for digital security to 200 skilled professionals. The integration aims to optimize the synergy between IT security infrastructure and the specific, highly regulated needs of automotive manufacturers and their supply chains.

CYRES CONSULTING, which reported an EBITDA margin of LOGIN in 2021, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level LOGIN than the average currently observed in the TMT (Tech, Media, Telecom) sector (14.8x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

CYRES Consulting Services GmbH is a Munich-based specialized consultancy firm recognized as a technical authority in cybersecurity for the automotive industry. With a primary focus on the complex automotive supply chain, the firm delivers essential technical and compliance-driven advisory services. Its value proposition is built upon navigating the rigorous regulatory environment governing digital security, electric vehicle architecture, and interconnectivity protocols. By providing deep expertise in cybersecurity controls, the company ensures that its clients maintain operational integrity amidst rapid technological evolution. The organization distinguishes itself through its ability to integrate technical consultancy with compliance process organization, effectively acting as a bridge between engineering requirements and regulatory mandates

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Historical Financials (EUR)

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REFERENCES

Valuation range: EV 0M - 15M EUR

Revenue range: 5M - 25M EUR

EBITDA range: 0M - 5M EUR

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Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Acquirer: sesa group