No company can do without personnel management and personnel administration – a time-consuming task that ties up capacities. With good software support, many processes in the area of human resources (HR) can be made more efficient. This has been the business model of HRWorks in Freiburg for over 20 years. The private equity manager Maguar Capital has now taken over HRWorks together with several co-investors. This article is based on the unique List of the 150 most important private equity investors in Germany.
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Specialised in medium-sized software companies in the B2B sector
Founded in 1999, HRWorks is an oldie in the software development scene, which is otherwise characterized by many start-ups. The HRWorks software is an established brand in the market. The company offers its customers a comprehensive tool that covers almost all functions in HR management – from personnel administration and time recording to travel organization including payroll. In addition to Freiburg, HR Works also has branches in Frankfurt/Main and Berlin with a total of around 60 full-time employees. From these locations, around 1,700 corporate customers and over 210,000 users are served.
Maguar Capital is a newcomer to HRWorks. The company in Grünwald near Munich was founded in 2019 and its investment focus is on small and medium-sized software companies in the DACH region that pursue B2B business models and are owner-managed. The EBITDA should be in a range of around one to six million euros. HRWorks fits exactly into this profile. Other partners in the HRWorks acquisition were the private equity investors EMZ Partners, Aberdeen Standard Investments, Golding Capital Partners and LFPE.
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