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Engagement — Add-on Due Diligence

Code & Co. advises GSG GENII Software Group ahead of its acquisition of CPQ software provider camos

GSG GENII Software Group (“GENII”) acquired camos, a leading provider of CPQ (Configure, Price, Quote) software that enables discrete manufacturing companies to digitalize and automate the sales process for complex, configure-to-order, and engineer-to-order products.

camos, now part of GENII‘s manufacturing business unit, can further expand into adjacent markets while leveraging GENII’s customer base. Furthermore, all GENII companies will integrate camos CPQ 365 as the standard CPQ module.

GENII’s acquisition of camos aligns with its strategy to be the best home for market-leading, niche enterprise software businesses and its mission to help these businesses leverage GENII’s customer base and geographical footprint so that they can become part of a comprehensive and future-proof product proposition for mid-market customers. GENII considers its acquisition of camos to be strategically complementary to its manufacturing solutions and an opportunity to give its customers access to the best-in-class CPQ solution in DACH.

Scope of work

Code & Co. advised GENII on Tech & Product Due Diligence by compiling an in-depth assessment of camos’ software architecture and infrastructure, technology stack, scalability, and security. Furthermore, Code & Co. assessed the company’s product-strategic growth plans, operations, product roadmap, and KPIs. This transaction underlines Code & Co.’s position as a market-leading technology and product advisor for global and cross-border transactions. It further highlights Code & Co.’s broad expertise across diverse industry sectors.


GENII Software Group provides market-leading, industry-specific software solutions and services, which are explicitly developed to meet the needs of mid-sized businesses and public services. The company prides itself on being the partner of choice for software entrepreneurs and companies. As a trusted partner and expert advisor, GENII guides its customers through digitalization, ensuring they are future-proofed for success in an ever-changing business environment. GENII is based in Munich and consists of five vertical market business units: manufacturing, retail, distribution, public services, and laboratories.

About Bregal Unternehmerkapital

Bregal Unternehmerkapital ("BU") is a leading family-backed investment firm with offices in Munich and Milan. As a part of a family-owned business that has grown over several generations, the BU funds invest in mid-sized companies based in Germany, Austria, Switzerland, and Northern Italy. With the mission to be the partner of choice for entrepreneurs and family-owned businesses, BU seeks to partner with market leaders and "hidden champions" with strong management teams and outbreak potential. Since its founding in 2015, the funds managed by BU have invested over €2.6 billion in more than 90 companies, supporting over 25,000 employees, and working in partnership with entrepreneurs and families to develop, internationalize, and digitize their businesses, while helping them generate sustainable value on a responsible basis with the next generation in mind.

About camos

Based in Stuttgart, Germany, camos digitizes the sale of complex products. camos CPQ software enables medium-sized and large-scale companies to digitize and automate sales processes for multi-variant products. The company also supports its customers as a strategic partner on projects that digitalize the sales process. camos’ standard software for configuring offers — now CPQ — has been in use since the mid-2000s and CPQ 365, camos’ cloud-based CPQ software, helps manufacturers achieve a high level of efficiency when configuring highly complex products. camos has since become one of the leading CPQ providers, with over 250 successful projects and users in more than 110 countries. The company has a diversified customer base, including high-end and market leading global manufacturers such as Siemens, Continental, Schindler, Kone and Liebherr as well as leading players like Hörmann. In 2022, camos generated more than EUR 16M in sales.

About Code & Co.

Code & Co. is an independent advisory firm that specializes in providing modern, actionable Tech & Product Due Diligence for the global alternative investment industry. Our expertise uncovers risks that threaten asset value and opportunities to accelerate growth.