Client: Permasteelisa España Donges Group S.A. – a Mutares investment
- Seller: Permasteelisa S.p.A., specialized in architectural coatings made of glass and steel, ~4100 employees
- Buyer: Mutares, Private Equity Investor
- Company name: Permasteelisa España Donges Group S.A
- Size: ~97 employees (of which ~42 IT users), ~21m€ turnover
- Industry: Construction company
- Headquarters: Getafe, Madrid
- Location: Spain
“I would like to thank all the IT teams involved in this carve-out project: digatus, Blackbytes and the IT team of Permasteelisa. Thank you for your support and coordination in
this project to achieve the goals successfully and on time.”
Franzisco Montes
HR Manager & Project Control, Permasteelisa España Donges Group
Initial Situation and Challenges
In mid-2021, Mutares considered acquiring the multinational construction company specializing in architectural coatings
made of glass and steel from Permasteelisa S.p.A. in Spain (rebranded to “Permasteelisa España Donges Group S.A.”). As the exclusive IT advisor for Mutares, digatus conducted the IT Due Diligence and supported negotiations for the Transitional Service Agreement (TSA) in IT/technological topics.
When Mutares decided to make the purchase and agreed with Permasteelisa S.p.A., digatus was awarded the contract for consulting and implementing the IT Carve-Out. The entire IT had to be cut out (Carve-Out) from the group as part of the separation.
Together with Permasteelisa, a project plan for the IT Carve-Out of applications and IT infrastructure was established with a total duration of six months. The ERP landscape was migrated concurrently under the direction of Mutares within 12 months. After the transaction, Permasteelisa España is intended to continue growing as part of the Donges Group portfolio, an investment of Mutares.
Solution
The IT Due Diligence successfully identified the scope, costs, and risks of the IT Carve-Out, which were relevant for designing the TSA. After the signing of the transaction, digatus began with Day1 preparation to ensure uninterrupted business operations after closing. On short notice, among other things, the ~90 email accounts were transferred so that the sold business units could operate in the market as “Permasteelisa España” from Day1. The subsequent IT Carve-Out encompassed the entire IT landscape, including various CAD and production applications as well as the complete IT infrastructure. digatus, together with the local partner Blackbytes, successfully completed the IT Carve-Out without operational interruptions and within the TSA timeline.
Project scope: Making Permasteelisa España’s IT independent and moving to a new production building:
- Migration of the ERP system
- Separation and optimization of the entire IT infrastructure for ~42 IT users (client, network, hardware, software)
- Migration of >2 different CAD systems
- Optimization of existing and negotiation of new contracts with IT service providers
- Realignment of IT organization and IT strategy
After the carve-out, Permasteelisa España, under the guidance of digatus, decided to continue partnering with Blackbytes to ensure an efficient transition from the carve-out project to standalone operations (Transfer to Operate (TTO)). Blackbytes remains the strategic IT delivery partner and provides, among other services, the following as an IT one-stop shop for Permasteelisa España:
- 24/7 IT Operations
- Cloud & Network Operation
- Client- & Backend Management
- Service Desk
Customer Benefits
digatus provided Mutares with IT due diligence, IT carve-out, and IT operations from a single source. digatus and Mutares were able to benefit from their shared experiences from successfully completed projects for the Permasteelisa España project. Through comprehensive IT carve-out expertise and consistent project management by digatus, the spin-off and independence of Permasteelisa España was carried out without interruption. Permasteelisa España has now been separated from the structures of its former parent company Permasteelisa S.p.A. and operates as part of the Donges Group in the market. The IT applications and infrastructure were modernized during the transition, and the processes were aligned with the needs of the new, agile medium-sized company.
Christoph Pscherer
He has been working in the IT environment for almost 30 years, gaining experience in various roles and areas. Through his years of experience as a Service Manager, he knows the challenges and needs on the customer side. He has been applying this deep understanding and knowledge at digatus for more than eight years. As Head of BU IT M&A and Transformation, he and his team support all IT topics along the value chain of M&A projects. This includes due diligence, carve-out, and integration projects.
