Afinum Management has agreed to sell FAST LTA to Summa Equity

FAST LTA

FAST LTA, is a leading, zero loss high-security long-term data storage provider, offering software, hardware and managed service solutions for compliant archiving, backup and recovery of business-critical and sensitive data. Its cutting-edge solutions are used in a wide range of different industries such as healthcare, industrial, automotive and the public sector, among others. The solutions’ use cases span on-premise, private as well as hybrid cloud environments and ensure protection against ransomware and other cybersecurity challenges. Afinum Management, a Munich-based private equity fund, acquired the company in 2019 and supported it during the management transition and new product development. Founded in 2007, FAST LTA is headquartered in Munich and employs around 100 individuals.

The Deal

Afinum announced the successful sale of its portfolio company FAST LTA to Summa Equity, a Nordic-based thematic investment firm. The investment will be made out of its €2.3 billion Article 9 Fund III with the aim to solve pressing global challenges and contribute positively to UN Sustainable Development Goals 16.10 and 13.2.

Summa will continue to support management to drive the company’s organic and inorganic growth, setting the stage for accelerated expansion into new markets. This will further strengthen the competitive edge of FAST LTA and position the company as a champion for highly secure and compliant data storage and archiving solutions.

FAST LTA’s management remains committed and is excited to collectively execute the growth strategy and form the number one leader in highly secure backup and archiving solutions. Investing in companies that help address crucial cybersecurity challenges is a core thematic focus within Summa’s tech investment strategy, and its acquisition of FAST LTA follows the goal of building a new sustainable champion in secure and compliant data storage.

Summa’s investment marks a significant milestone for FAST LTA and its management team on its strategy to become the international leader in zero-loss archiving solutions for regulated, critical infrastructure and enterprise customers.

Our Perspective

“It has been a pleasure to work with Afinum and the management of FAST LTA to find the right partner for the next development phase. Lincoln demonstrated its prowess in navigating such scenarios, where global buyer access, industry insights and physical proximity to clients are paramount to deal success,” Milan Saric-Toplica, Lincoln International Managing Director who led the transaction, commented. “We are convinced that FAST LTA will become the international standard for high-secure, zero-loss archiving and backup solutions for critical industries while fulfilling UN Sustainable Development Goals. The investment by Summa, the leading European sustainability / ESG sponsor, not only perfectly aligns with the company’s strategy and product portfolio, but also shows the importance of the technology sector to address future challenges of mankind. We are enthusiastic to support management and the new owner, FAST LTA, in executing their future value creation strategy.”

Afinum Management

Afinum is a leading mid-cap investment firm in the German-speaking region. Established in the year 2000, Afinum is investing across its core verticals: software and technology, media and telecom; healthcare, industrial technology, consumer and internet. It has earned acclaim for its investments in growth and succession situations, teaming up with entrepreneurs.

Afinum’s extensive experience and collaborative approach makes it a preferred investor for entrepreneurs looking for a partner to help drive growth through expansion, digitization or acquisitions. The sponsor takes a responsible approach to investment and ownership. Investments are evaluated taking into consideration ESG and UN sustainability goals. For more information, please visit www.afinum.de.

Summa Equity

Founded in 2016, Summa is an impact investor focusing on three thematic areas: resource efficiency, changing demographics and tech-enabled transformation. The purpose of Summa is to invest in solving our global challenges. Summa has approximately €5 billion in assets under management and has made more than 30 platform investments across the three funds raised to date. The investments have the potential for long-term sustainable outperformance because they address some of the social, environmental and governmental challenges we need to solve as a society.

The team is located in Northern Europe, with offices in Stockholm, Oslo and Munich. Partnerships are part of Summa’s DNA, exemplified by being a certified B Corporation and collaborating with Harvard Business School and the International Foundation for Valuing Impacts (IFVI). For more information, please visit www.summaequity.com.

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