The Sesa Group, through Var Group, has signed an agreement for the acquisition of the majority stake in CYRES Consulting Services, a German company active in technical and compliance consultancy in the field of cyber security for the automotive industry, with a focus on the entire supply chain of production.
The Company has a workforce of over 50 specialized human resources and expected revenues in 2022 of around 5.5 million, an Ebitda margin of 25% and a plan for strong growth over the next three years following the acceleration in demand for Cyber Security expected in the Automotive industry.
Thanks to this operation, the skills in the Cyber Security field of the Var Group Digital Security division are further strengthened, which reaches a total of 200 resources specialized in IT consultancy and security, with a strong European presence, in particular in the DACH Region.
The vertical solutions for the automotive sector and its supply chain in the field of cyber security are expanding, optimizing the processes of integration of IT security solutions with the infrastructures of its customers.
The operation was carried out on the basis of valuation criteria consistent with those generally adopted by the Sesa Group (5x Ebitda) with Earn Out mechanisms based on the generation of prospective value.
The acquisition is part of the Sesa Group’s broader investment strategy in projects aimed at consolidating its vertical digital skills in sectors of strategic importance for the European economy, supporting the digital transformation of companies and organisations. The Sesa Group thus continues to fuel its growth path through bolt-on industrial M&A in strategic sectors for its development, such as IT security.