FLEXiCODE: sale to EOS Partners advised by atares

Munich, September 19, 2025.

atares, the digital M&A boutique for technology-driven companies, advised the shareholders of FLEXiCODE GmbH and FLEXiCODE Schweiz AG as exclusive M&A advisor on the sale to EOS Partners. The transaction marks the next step in the growth of the IFS specialist active in Germany and Switzerland and strengthens its leading position within the rapidly growing IFS ecosystem.

In less than three months – from initial investor outreach to signing – atares supported the process end-to-end: approached qualified investors, solicited non-binding indications of interest and binding offers, coordinated the multidisciplinary due diligence, and negotiated the transaction documentation through to closing. Key factors included alignment across jurisdictions, keeping bidders synchronized within an accelerated timeline, and structuring the equity rollover.

The shareholders Carolin Scheifl, Lorenz Wiederer, and Raphael Prior will continue to serve on FLEXiCODE’s management team. Together with EOS, FLEXiCODE intends to accelerate its development through organic growth initiatives and a targeted buy-and-build strategy. The focus is on expanding high-growth areas such as Field Service Management (FSM), further scaling with Managed Services, and strengthening the international presence to support IFS’s global partner strategy.

Florian Liepert, Partner and IT services expert at atares: “‘Merging Visions’ means aligning differing interests in a goal-oriented way to lay the foundation for sustainable growth. With EOS, we identified exactly the right growth partner for FLEXiCODE in a short period of time. We thank the shareholders for their trust and congratulate everyone involved on this excellent outcome.”

Carolin Scheifl, Co-Founder of FLEXiCODE, on working with atares: “The close collaboration with atares made all the difference. Florian Liepert and his team were far more than traditional advisors – they became a true partner who understood our goals and consistently guided us to success. Together, we set the course for FLEXiCODE’s next phase of growth.”

About FLEXiCODE Group
FLEXiCODE is an IT services provider based in Germany and Switzerland with a focus on the IFS ecosystem. The company supports mid-sized industrial clients with ERP implementations, cloud transformations, and managed services, and additionally offers proprietary software solutions. Thanks to deep industry expertise and a strong commitment to quality, FLEXiCODE is a trusted partner to the manufacturing sector.

About EOS
EOS is a long-term oriented private equity firm with approximately €500 million in assets under management (AUM). The firm focuses on mid-sized companies in the DACH region (Germany, Austria, Switzerland), BeNeLux and the Nordics across software/tech-enabled services, industrial tech, and healthcare. With strategic expertise, a strong network, and flexible capital solutions, EOS helps companies accelerate growth and enhance operational excellence, building category-leading businesses.

About atares
Atares is a digital M&A boutique focusing on technology-driven mid-cap companies in Germany and sees itself as a pioneer in the digitalization of the M&A industry. Founded in 2001, Atares has advised on more than 200 transactions in over 20 years. The focus is on transaction sizes between EUR 10 and 250 million, mostly involving owner-managed companies. With long-standing personal contacts to corporates, Private Equity investors, and M&A advisories in Europe, North and South America, and Asia, and as a member of the global tech M&A alliance Global Tech Mergers, atares is a sought-after partner for the tech champions of tomorrow. The Munich-based atares team manages projects with a comprehensive technology and data stack – for value-adding, efficient transactions with the best user experience.

Franziska Wolfgram
f.wolfgram@atares.team
+4989 – 38888-124