Omnetic, member of EAG Group, has raised growth capital from Kartesia and CVI

February 2024 — EAG Group has completed a first investment round for its Omnetic platform. The company was seeking growth capital of up to US$110 million in order to consolidate the CEE markets and finance its expansion to new geographies. The transaction was closed with Kartesia, the European specialist provider of capital solutions for small- and mid-sized companies, in partnership with CVI, a private debt investor based in Warsaw, Poland.

Part of the EAG Group, Omnetic is a developer of software solutions and provider of IT and data services for the automotive market integration sector, active in several European countries. Omnetic is a CEE market leader with approximately 80% market share in the Czech Republic, 65% in Slovakia and 50% in Poland. The company also covers Germany, France, Italy, Austria, Benelux, Greece and Romania. Omnetic’s strength is to integrate the knowledge of the operating needs of the vehicle dealer and workshop industry directly into its software and services with its dedicated programming team, hence making business processes more efficient and improving their quality. Its client base comprises a diversified set of customers in the Central European region, including authorized dealerships, banks, insurance companies, leasing providers and repair shops. Omnetic is recommended by 34 different vehicle brands and certified by 29 automotive brands, such as Volkswagen, Mazda, Toyota, Hyundai and Ford.

Omnetic has a strong strategy with expected growth of 30% y-o-y in the next five years due to economies of scale of the existing software solutions, fostering IT and acquisitions. Omnetic had revenues of US$23.5 million and an EBITDA of US$8 million in 2023 and plans +24% and +12% growth in revenues and EBITDA respectively.

Our role in the transaction

Oaklins’ team in the Czech Republic acted as the exclusive financial advisor to EAG Group in the historically first investment round for its Omnetic platform. We approached a long list of both private equity investors and mezzanine providers from all over the globe, with strong focus on Europe. The opportunity was very well received by the investment community, and we managed to collect almost twenty indicative offers from international investors. Thanks to a very competitive environment, we managed to negotiate favorable transaction terms and successfully closed the deal with a consortium of Kartesia and CVI who offered the most flexible capital solution for the client. Oaklins’ team in Poland introduced CVI.