IT security provider Kappa Data aims to double its revenue to 240 million euros by 2030.
Belgian IT security specialist Kappa Data has restructured its shareholder structure to enable planned growth. InvestLink, a shareholder since 2019, increases its stake from 20 to 30 percent. CEO Patrick Casteels simultaneously strengthens his position on the board of directors and sees his share rise from 22 to 35 percent. Together, InvestLink and Casteels are the largest shareholders.
The company generated revenue of about 120 million euros in 2024 and aims to double that amount within five years. To achieve this, Kappa Data is following a strategy with three pillars: organic growth, targeted acquisitions, and selective expansion of its brand portfolio in multiple countries.
Expansion in France, the Netherlands, and Poland
A large part of the growth should come organically. According to analysts, the cybersecurity market is growing by 9 to 12 percent annually. Kappa Data sees room for growth especially outside Belgium and Luxembourg. The group plans to open new offices in France, including Paris and Nantes. Currently, Kappa Data has branches in Lille, Lyon, and Toulouse. EXER, acquired in 2021, was recently rebranded and now continues as Kappa Data France.
Erwan Le Guen leads the French branch, while Patrick Casteels manages the Benelux region. Plans for further growth are also on the table for the Netherlands and Poland. Acquisitions and international distribution of the product portfolio complete the growth plan. According to Casteels, Kappa Data remains true to its model of focused distribution with a limited brand offering.
InvestLink sees its larger stake as a logical step to support these plans. The private equity firm wants to use its market experience and international network to develop Kappa Data into a pan-European distributor in IT security.
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