Evo IT, a leading Austrian IT services provider, has been acquired by FLEX Capital, a Berlin-based private equity firm, to drive further growth and expansion in the DACH region.

Target Company Overview

Evo IT, established in 2011 and headquartered in Vienna, Austria, has emerged as a prominent IT services provider specializing in complex custom software and digital transformation services across the DACH region. The firm comprises two key subsidiaries: Evolit GmbH and Evol.X GmbH. Evolit focuses on delivering tailor-made enterprise software solutions for industries that are highly regulated, including Mobility (Infrastructure), Energy, and Testing, Inspection & Certification (TIC). It has successfully partnered with notable organizations such as ÖBB, RailNet Europe, and TÜV Süd. In contrast, Evol.X is dedicated to industry-agnostic digital customer experience implementations, leveraging strong capabilities in AI integration within enterprise IT infrastructures. Together, these divisions serve over 70 esteemed clients in Germany, Austria, and Switzerland, melding deep sector knowledge with advanced technological expertise.

According to Paul Kleinrath, CEO and founder of Evo IT, the company is proud of its substantial growth in recent years and views the partnership with FLEX Capital as an opportunity to further develop its trajectory. Meanwhile, Michael Vogt from VR Equitypartner emphasized the impressive evolution of Evo IT under their ownership, expressing confidence that FLEX Capital is the right collaborator to continue its success, aided by Drake Star's professional advisory support throughout the process.

Industry Overview in Austria

The Austrian IT services market is experiencing robust growth, largely driven by increasing public investment in mobility infrastructure and energy, which are crucial sectors for economic development. Digitalization continues to be a key catalyst, f