Reference
Success Story Pava Partners
Fast track to independence: IT-HAUS supports TD Cowen spin-off in setting up its own IT department
Pava Partners is one of the leading European M&A and debt advisory firms for technology-driven and dynamically growing medium-sized companies. With twelve partners and over 50 employees, Pava Partners was founded as a spin-off from TD Cowen, a division of TD Securities. The team has been working together successfully for over 20 years, advising entrepreneurs, investors and companies on national and cross-border transactions. Since then, hundreds of transactions have been completed. Pava's focus sectors are Software, IT Security, Semicon, Sustainability Tech, Mobility Tech, Healthcare, Industrials & Robotics, Consumer & Internet and Business Services. Pava is headquartered in Munich and has offices in Leipzig, Berlin, Frankfurt am Main and Zurich. >> pava.eu
On November 1, 2023, the former partners of the Cowen Europe Group took over the continental European investment banking business of TD Cowen and have since continued to run the business as an independent company under the name Pava Partners. It was the task of IT-HAUS GmbH to support the spin-off in setting up its independent IT. However, the Föhreners did not have much time for this ...
In this interview, Rene Jung, Team Lead Professional Services at IT-HAUS, reports on the major challenge this posed for everyone involved and how it was overcome.
Can you tell us a bit about the development of the project?
In the past, IT-HAUS already had Contact with Cowen Europe. Then came the request to implement the spin-off within a very short time. We then wrote an offer on the same day with rough key data on the expected personnel requirements and expenditure, mapped out what basically had to be done technically to separate a company from its parent company - and drafted a concept over the weekend. We presented this on Monday, received the order and started work.
Team Lead Professional Services
The aim was for Pava Partners to be able to work without the parent company at the end of the project. To achieve this, a completely new infrastructure had to be set up across several locations. Although the existing computers could continue to be used, they first had to be certified and deleted. We therefore reset the notebooks for Pava Partners on 01.11.2023, reloaded them and put them back into operation in the new environment. The entire hardware rollout was carried out on site at the Leipzig location, as most of the employees are based there. In addition, all of the customer's email inboxes and inventory data had to be moved to the new environment by the deadline of November 1. That was quite a lot of work in such a short space of time ...
Team Lead Professional Services
We prepared and preconfigured the new devices here at Föhren and rolled them out in Leipzig on November 1. In the following days, we then drove to Berlin and on the way back via Frankfurt am Main to Munich and replaced the hardware at all three locations - in a kind of tour of Germany.
Team Lead Professional Services
In the end, we did everything: for example, we moved the entire server infrastructure to our cloud and hosting partner IONOS in the data center so that Pava Partners did not have to maintain any capacity on site to take care of a server room, manage air conditioning or a backup, change tapes, etc. After all, it was the customer's wish not to set up their own IT, but to place it entirely in our hands. It also didn't matter whether the employees were based in Leipzig, Munich, in a home office or elsewhere. That's why we followed the "cloud first" approach from the outset, so that everything used by the customer can be managed via the cloud.
Team Lead Professional Services
This ultimately affects all systems, such as ERP or CRM. As it turned out in the course of the project, the customer also uses banking software, for which we put another server into operation. Although we had to rely on external specialists with the relevant application expertise for this, we also provided them with technical support in the cloud.
Team Lead Professional Services
There were a few issues that set us back a little. However, with such a short planning phase, our project management takes certain imponderables into account from the outset. So we actually got there quite well by 01.11.2023. Our primary goal at all times was to satisfy the customer and ensure that they could work smoothly. To date, there have been no complaints.
Team Lead Professional Services
First of all, its environment is almost infinitely scalable. If the customer needs more employees or more power, for example, this can be adapted at the touch of a button. They only ever pay for what they actually use. At the same time, they save on an on-site data center with cost factors such as electricity, air conditioning, access security, etc. We ensure the availability of their environment through continuous monitoring and proactive maintenance. There are also added accounting benefits such as monthly billing, cost transparency, etc.
Team Lead Professional Services
The relocation of the server infrastructure to the IONOS data center alone means the highest level of physical IT security that hardly any medium-sized company can afford in-house. The same applies to availability, but also to security thanks to up-to-date, regularly patched and maintained systems.
Team Lead Professional Services
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