Bridgepoint Press Release
Bridgepoint to acquire majority stake in iC Consult to accelerate global expansion in identity security
- Bridgepoint to acquire a majority stake in iC Consult from Carlyle
- Jürgen Biermann, founder of iC Consult, recently appointed CEO
- Between 2020 and 2025, iC Consult delivered c.20% annual growth in Europe and expanded into the US
- The company operates in a multibillion IAM market growing at double-digit rates, driven by evolving cybersecurity threats and rapid AI development
Bridgepoint, one of the world’s leading mid-market investors, today announced that it has agreed to acquire a majority stake in iC Consult, the world’s largest independent provider of identity security services, headquartered in Munich, Germany.
The transaction sees Bridgepoint partner with iC Consult founder Jürgen Biermann, who was recently appointed CEO, and the rest of the management team, who will remain invested, while Carlyle will fully exit its holding. Terms of the transaction are not disclosed.
Founded in 1997 and headquartered in Munich, iC Consult is the world’s largest independent identity security specialist, with 850+ experts across North America, Europe, and Asia, offering an end-to-end portfolio of advisory, implementation, integration, and managed services that help enterprises secure access to critical systems and data. IAM is a core component of modern cybersecurity architectures, ensuring that the right users and systems have access to the right resources at the right time.
The company serves a global base of large enterprise clients across sectors including financial services, automotive, manufacturing and the public sector. Its services are deeply integrated into clients’ IT environments, fostering long-term, trusted relationships.
iC Consult has delivered strong growth in recent years, with its pan-European business growing at c.20% annually between 2020 and 2025 and expanding its presence in the US. The business operates in a large and fast-growing market, with the IAM services market in Europe estimated at c.€2.5bn and expected to grow at double-digit rates, driven by increasing cyber threats, regulatory requirements and the rapid proliferation of digital identities, including those linked to agentic AI.
With Bridgepoint’s support and under Jürgen Biermann’s leadership, iC Consult will focus on accelerating international expansion, strengthening its managed services offering, further investing in AI-enabled capabilities, modernizing and evolving its service portfolio, and continuing to pursue selective M&A opportunities to build a scaled global IAM platform.
Bridgepoint brings deep experience in technology and cybersecurity services, having backed a number of specialist platforms including Infinigate, a cybersecurity value-added distributor, and DataExpert, a specialist in digital forensics and cybersecurity services, alongside broader experience in scaling international technology and services businesses.
Jürgen Biermann, Founder and CEO of iC Consult, said:
“Today marks the beginning of an exciting new chapter for iC Consult. Bridgepoint brings not only capital, but also deep sector expertise and a strong track record of helping companies like ours scale internationally.
Together, we share a clear ambition: to further strengthen our position as the world’s leading independent identity security specialist, expand our global footprint, and transform iC Consult into a truly AI-native company.
With Bridgepoint’s support, we will continue to invest in our people, our capabilities, and our platform – ensuring we deliver even greater value to our clients at a time when the rapid, AI-driven growth of digital identities makes identity security more critical than ever.”
Christopher Brackmann, Partner at Bridgepoint with responsibility for investments in DACH, said:
“iC Consult is a standout business operating at the heart of a structurally attractive and fast-growing market. Its leadership in identity security and strong position in Germany make it a compelling partner for Bridgepoint.
We look forward to working with Jürgen and the team to support the next phase of development and continue to build a category-leading platform in identity security.”
Maciej Chrystowski, Director, Technology team at Bridgepoint, said:
“What sets iC Consult apart is the scale and depth of its technical capability in a highly complex and mission-critical segment of cybersecurity. As AI accelerates the growth and complexity of digital identities, identity security is becoming even more critical.
We see a significant opportunity to further modernise and evolve the platform, including expanding its capabilities for securing agentic AI while continuing to strengthen its managed services offering and selectively pursuing M&A to expand the company’s international footprint.”
The transaction is subject to customary closing conditions, including regulatory approvals, and is expected to complete in Q3 2026.
Bridgepoint was advised by Canaccord Genuity and Piper Sandler Ltd. (Financial Advisors), Kirkland & Ellis (Legal Advisor), Altman Solon (Commercial Advisor), EY Parthenon (Financial, Tax, IT & Cyber and ESG Advisor), and Marsh (Insurance Due Diligence).
iC Consult and Carlyle were advised by Lincoln International (Financial Advisor), Latham & Watkins (Legal Advisor), McKinsey & Company (Commercial Advisor) and PwC (Financial & Tax Advisor).
Carlyle Press Release
Carlyle Agrees to Sell iC Consult Group to Bridgepoint
Munich, Germany – 27 April 2026 – Global investment firm Carlyle (NASDAQ: CG) today announced it has agreed to sell iC Consult Group (“iC Consult”), the world’s largest independent provider of identity security services, to Bridgepoint. The transaction is subject to regulatory approval and is expected to close in Q3 2026.
Headquartered in Munich and founded in 1997, iC Consult is a leading provider of enterprise-grade IAM and identity security services. The company’s network brings together the entire IAM value chain, from consulting and managed services to its own IAM automation platform. It supports organisations in designing, implementing, and operating cybersecurity architectures that secure digital identities across employees, customers, partners, machines and AI. Today, iC Consult employs more than 850 specialists and serves a blue-chip enterprise client base across Europe and North America.
During its ownership period, Carlyle worked in partnership with the company’s leadership team to transform it from a DACH-focused player into a global leader for identity security services, expanding its geographic presence across Europe and the North American market with near and offshore capabilities in Asia and Bulgaria. In addition, iC Consult deepened its partnerships with leading technology vendors, and continued to strengthen the management team to support the company’s next phase of growth. This resulted in iC Consult growing revenue, EBITDA, and headcount by more than 2.5 times during the period of Carlyle’s investment.
Dr. Thorsten Dippel, a Managing Director, and Oliver Koethe, a Principal, on the Carlyle Europe Technology Partners (“CETP”) investment advisory team, said: “We are delighted to have partnered with iC Consult’s founder and CEO, Jürgen Biermann, and the entire iC Consult leadership team over the past several years. The company has developed into a leading global identity-security specialist with deep vendor ecosystem relationships and a broad geographic presence. We wish the team every success in the next chapter of the company’s development.”
Jürgen Biermann, Founder and CEO of iC Consult, said:
“Carlyle has been an exceptional partner in helping us scale iC Consult into the global leader it is today. Together we have expanded internationally, enhanced our leadership and operational capabilities, and invested significantly in our delivery platform and service innovation. I am deeply grateful for Thorsten Dippel and Oliver Koethe’s support. As organisations increasingly adopt identity-first cybersecurity architectures and AI Security becomes a defining priority, we are excited about the opportunities ahead and look forward to continuing our growth journey with Bridgepoint.”