Waterland invests in CodiLime – Polish leader in IT solutions for the network industry

Warsaw, 7 August 2023 – Waterland Private Equity purchased a controlling stake in CodiLime, a Polish company developing world-class solutions for the telecommunications and network industry. This is the Dutch fund’s third investment in the Polish technology sector. For CodiLime, which carries out projects for companies such as Cisco, Equinix, Palo Alto Networks, Juniper Networks and Nutanix, the investment means even more opportunities for international growth.

Codilime is a technology company providing specialized software development services in the field of network virtualization (SDN, NFV, network softwarization) for the telecommunications and network sector. It is an excellent example of the strength of the Polish technology services sector and the talent of Polish developers. Founded in 2011 by IT students specializing in algorithmics who had won top places in international IT competitions, from the beginning it was based on the idea of employing the best Polish engineers. As a result, it has been able to successfully deliver complex projects for global sector leaders.

“We are impressed by CodiLime’s performance – its specific competences and operational agility, as well the scale of projects conducted for global companies. We want to enable the company and its engineers to develop their know-how and strengthen their customer relationships. At the same time, we intend to support CodiLime in its further development through a buy-and-build strategy in which we will invite companies with complementary competences and strong customer relationships to join the group. Our common ambition is to build an international IT group specializing in the network area,” states Tomasz Karpinski, investment director at Waterland’s Warsaw office.

The management of the company remains in the hands of the existing board of directors: Marek Niedźwiedź (CEO and Co-founder), Bartosz Górski (Deputy CEO and Co-founder) and Paweł Melon (COO), who together with the existing team guarantee the continuity of CodiLime’s dynamic organic growth.

“Waterland’s investment will boost our path forward and help us to go even deeper in the NEEDS area. This in turn will be beneficial for our employees and customers. I would like to say thank you to the whole team and our customers. As we are very happy to take this step and we are laser-focused on what comes next,” comments Marek Niedźwiedź, CEO and Co-founder of CodiLime.

The acquisition of CodiLime is a sign of Waterland’s growing activity on the Polish market and the fund’s continued interest in Polish companies. It is already the third Polish technology company in its portfolio. In previous years, the fund acquired PGS Software and GetInData, which joined the Xebia company it owns. CodiLime is distinguished by its focus on specialized services for the network sector.

Waterland’s other investments in the Polish market include an acquisition of a factory owned by Cargill by its portfolio company United Pet Foods. The fund is also a majority shareholder in Kredyt Inkaso. In January, Waterland announced the closure of the €3.5 billion Waterland PE Fund IX, which will be deployed in Waterland’s key markets, including Poland.

The value of the investment was not disclosed.