Luther advises AG Capital and VR Equitypartner on investment in smart card provider IDENTA

Frankfurt am Main, 06.02.2024 – The Frankfurt-based investment company VR Equitypartner and AG Capital from Vienna are acquiring a majority stake in IDENTA Ausweissysteme GmbH. Luther Rechtsanwaltsgesellschaft advised AG Capital and VR Equitypartner on the investment.


The investment companies VR Equitypartner from Frankfurt am Main and AG Capital from Vienna are acquiring a majority stake in IDENTA. Together with the new shareholders, IDENTA is to be further developed into a full-service provider in the field of access control and digital identities. IDENTA's customer base currently consists of around 3,500 companies in Europe, primarily in German-speaking countries. The ISO-certified smart card specialist offers its customers a web-based card management system as well as a comprehensive range of ID card accessories and desktop card printers. IDENTA's product portfolio includes multifunctional smart cards, MasterCard credit cards and RFID media such as key fobs (key fobs with transponders).

For this transaction, AG Capital and VR Equitypartner relied on the long-standing M&A and PE expertise of a cross-location Luther Private Equity team led by Philipp Glock as well as Luther's broad positioning as a full-service law firm with extensive industry expertise in the high-tech and IT security sectors.

About AG Capital:

AG Capital is an independent investment company based in Vienna. As an entrepreneurial partner, it provides buy-out and growth capital for innovative medium-sized companies in the DACH region. AG Capital acquires majority and minority stakes and supports its portfolio companies in growing sustainably and profitably, both organically and through acquisitions. This goal is achieved in a trusting partnership together with the co-owners and management teams of its portfolio companies. AG Capital takes a long-term and responsible approach, which is why the consistent consideration of ESG criteria is a key component of its investment strategy. The fund advised by AG Capital has a volume of almost EUR 140 million.

About VR Equitypartner:

VR Equitypartner is one of the leading equity financiers in Germany, Austria and Switzerland. With decades of experience, the company provides targeted support to medium-sized family businesses in finding strategic solutions to complex financing issues. Investment opportunities include growth financing and expansion financing, company successions or changes in shareholders. VR Equitypartner offers majority and minority shareholdings as well as mezzanine financing. As a subsidiary of DZ BANK, the central institution of the cooperative banks in Germany, VR Equitypartner consistently prioritises the sustainability of corporate development over short-term exit thinking. VR Equitypartner's portfolio currently comprises around 60 commitments with an investment volume of EUR 400 million.

On behalf of AG Capital and VR Equitypartner:

Luther, Corporate/M&A/PE: Philipp Glock (Partner, lead), Michael Ströbel, LL.M. (Partner), Dr Thorsten Becker (Counsel), Dominique Kurtz (Senior Associate), Antonia Schmidt (Associate)

Luther, Capital Markets, Banking & Finance: Christoph Schauenburg, LL.M. (Partner)

Luther, Commercial & Distribution Law, Product Liability/Product Compliance: Dr Kuuya Josef Chibanguza, LL.B. (Partner), Maike Böttcher (Associate)

Luther, Labour Law: Achim Braner (Partner), Nadine Ceruti (Counsel), Cyrielle Ax (Senior Associate)

Luther, IP/IT/Data Protection: Dr Wulff-Axel Schmidt (Partner), Dr Stefanie Hellmich, LL.M. (Partner), Pierre Daniel Wittmann (Senior Associate)