Ideal Holdings Acquires BlueStream to Expand IT Services Portfolio
Ideal Holdings (IDH) is pushing forward in strengthening its IT sector by acquiring 75% of BlueStream. BlueStream is a rapidly growing Greek company that provides infrastructure services both on-premises and in multi-cloud environments, as well as cloud migration, data availability, and outsourcing services.
Founded in 2008, BlueStream initially focused on providing support for hardware, operating systems, and data availability. With the addition of BlueStream, it is estimated that the business portfolio of Ideal Holdings will expand significantly.
Investment in IT Sector Expected to Increase Revenue for IDH in 2024
According to recent reports, the investment in the IT sector by IDH is expected to exceed 130 million euros by 2024, with EBITDA reaching 17 million euros. This acquisition is said to boost the rate of technology services offered by IDH, contributing to the company’s goal of becoming a one-stop-shop for IT solutions. Additionally, it is expected to strengthen the company’s client base, particularly in the private sector, with long-term contracts, ultimately improving EBITDA margins significantly.
With a turnover of 11 million euros, the investment in the IT sector is projected to have a positive impact on IDH’s financial performance in the long run, positioning the company as a key player in the technology market.
BlueStream Business Overview
In 2023, BlueStream’s business circle reached 11 million euros with an EBITDA of 2 million euros, showing an increase of 54% and 78% respectively compared to the previous year. It is estimated that the company will continue its upward trend in 2024. BlueStream has a healthy financial structure, with no debts and satisfactory liquidity.
IDEAL Holdings CEO’s Statement
According to the CEO of IDEAL Holdings, Panagiotis Vasileiadis, “With the addition of BlueStream, our portfolio in the IT sector is strengthened, while our companies are shaping a solid presence in the market.”
One-Stop Shop for Technology Solutions
Our company has established itself as one of the most comprehensive providers of IT services and solutions, essentially making the IT sector a one-stop shop for technology in our country. Through the partnerships created by this transaction, we will offer even more integrated and innovative solutions to our customers, while adding value to our shareholders and employees.
Our IT Sector
The IT sector of our company consists of Byte, Adacom, Ideal Electronics, and now BlueStream. As recently highlighted by Peiraios APEVE, which has started the c.
IDEAL Holdings: Creating Value through Strategic Investments
With a target price of €8.5 per share, a potential upside of 42%, and an Outperform rating, IDEAL Holdings is focused on acquiring strong majority stakes in companies with healthy financials and potential for further growth. Whether through organic expansion or acquisitions, the company aims to create entities of sufficient scale to attract the next investor and provide value to shareholders.
Notably, the acquisition of BlueStream amounted to €12.2 million, with the possibility of acquiring the remaining 2%. This strategic approach to investment underscores IDEAL Holdings’ commitment to generating long-term value and sustainable growth in its portfolio companies.
Investment in BlueStream by IDEAL Holdings
IDEAL Holdings group has invested 5% of the capital of the Common Bond Loan in the company BlueStream, with funding coming entirely from the available funds of the loan issued by IDEAL Holdings on 15.12.2023.
Following the transaction, Mr. Georgios Vasdekis will continue to perform his duties as CEO of BlueStream. He stated, “BlueStream has emerged as one of the top companies in the field of service provision and Cloud Migration in our country. Our agreement with IDEAL Holdings will enhance the expansion of our activities.”
Leveraging Technology and Geography for Business Expansion
Expanding a business into new markets requires careful consideration of both technological and geographical factors. By utilizing the synergies offered by the existing portfolio of IT companies within the group, as well as easier access to capital through IDEAL Holdings, we can effectively scale our operations and reach new customers.
