With the increase of remote work, hybrid work and the era of the Big Quit, the scope of human resources at companies has moved beyond hiring and firing. This has led to an increase in the number of startups in the HR space. Also, a spurt in M&A activities in the space has been witnessed in Europe.
Poland’s Grupa Pracuj has now acquired German human resources (HR) software management firm softgarden from Investcorp for $125 million to strengthen its presence in Germany. The transaction, which is expected to complete imminently, will result in a return of in excess of 3x invested capital in less than four years.
Headquartered in Berlin, softgarden’s recruitment software platform enables its customers to streamline and manage their entire digital recruitment process in an integrated and data-privacy-compliant manner. With features such as time-tracking, vacation and absence management, and personnel file management, customers also benefit from access to hundreds of fully integrated job-boards.
The global investment manager had earlier acquired the digital recruitment firm in 2018 as part of its Investcorp Technology Partners Fund IV to speed up growth through international expansion.
Mathias Heese, CEO at softgarden, said: “We could not have wished for a better partner than ITP. The team has closely supported our growth and development where we most needed it and, most importantly, enabled us to deliver great results for our clients. The business is going from strength to strength, and we look forward to our future as part of Grupa Pracuj.”