Systemat

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Systemat - overview

Established

1981

Location

-, -, Belgium

Primary Industry

Outsourcing

About

Based in Belgium, Systemat provides comprehensive IT infrastructure and digital transformation solutions, catering to a diverse range of client needs through innovative services. Systemat, founded in 1981 in Belgium, specializes in providing tailored IT services. The firm has remained focused on digital transformation and has not undergone significant changes in its operational strategy or structure. The company operates from its headquarters in Belgium and has built a reputation for supporting businesses in their technological journeys.


Systemat is a Belgian IT services provider specializing in digital transformation solutions tailored to meet a diverse range of client needs. The company offers a comprehensive suite of services that includes Workspace solutions, Printing & Document Management, Datacenter & Cloud services, IT Security, and IP Connectivity services. Their Workspace solutions aim to create optimal work environments that enhance user productivity, while the Printing & Document Management services focus on efficient and secure document handling. The Datacenter & Cloud offerings provide scalable and secure multi-cloud infrastructures, and the IT Security services incorporate various strategies to safeguard clients’ information systems.


Systemat caters primarily to businesses across Belgium and has a client base that includes a mix of small to medium-sized enterprises and larger corporations, all seeking to enhance operational efficiency and reduce technological burdens. Systemat generates revenue through a combination of service-based transactions and long-term client partnerships. The firm operates on a B2B model, primarily engaging with corporate clients who require ongoing IT support and digital transformation services. Clients typically enter into service agreements that may involve subscription-based pricing for managed services or project-based fees for specific IT solutions.


Their Workspace solutions and IT Security services are provided under contracts that include recurring payments, enhancing revenue stability. While specific pricing details for individual services are not publicly disclosed, the company's offerings are designed to meet varying budgetary needs, accommodating clients across different industries. The structured service delivery model ensures that clients benefit from tailored solutions, resulting in strong, sustained relationships and consistent revenue streams for Systemat. In November 2025, Cheops Technology NV, a portfolio company of Aquiline Capital Partners and Edmond de Rothschild Private Equity (France), acquired Systemat.


The financial terms of the transaction were not disclosed. This acquisition will enable Cheops Technology NV to enhance its capabilities and strengthen its market reach, indicating a strategic move towards expanding their service offerings and operational footprint.


Primary Industry

Outsourcing

Sub Industries

Commercial Printing, Offshore IT Services/IT Outsourcing, Systems Management Software, Monitoring & Security Software

Website

www.systemat.com

Total Amount Raised

Subscriber access only

Systemat - financials

Fiscal Year EndedDec 31, 2015Dec 31, 2016Dec 31, 2017Dec 31, 2018Dec 31, 2019Dec 31, 2020Dec 31, 2021Dec 31, 2022Dec 31, 2023Dec 31, 2024
Revenue (USD)205,611,634208,592,667265,061,667292,560,577289,304,677255,247,353266,722,677---
% Revenue Growth (YoY)-1.4%27.1%10.4%(1.1%)(11.8%)4.5%---
EBITDA (USD)9,599,96610,856,34415,673,22014,951,17413,944,5837,927,11313,616,072---
Operating Income (USD)8,632,2739,835,35612,925,91712,071,35610,501,5254,467,5469,615,583---
Operating Margin4.2%4.7%4.9%4.1%3.6%1.8%3.6%---
% EBITDA Margin4.7%5.2%5.9%5.1%4.8%3.1%5.1%---
NET Income (USD)6,641,5336,981,1576,984,1377,547,6726,008,4011,552,8274,303,147---
% Net Margin3.2%3.3%2.6%2.6%2.1%0.6%1.6%---

Systemat - deals

Deals TypeDeal StatusTarget (s)Deal DateInvestor(s)Seller(s)Deal size (Mn)Enterprise value (Mn)Post-money valuation (Mn)EBITDA multiple (x)Revenue multiple (x)Lead partner (s)
Add-on, Corporate Carve OutCompletedSystemat Talent Solutions-

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