CODEX Partners advised Warburg Pincus and its portfolio company Infoniqa, a fast-growing provider of HR software and payroll services, on the acquisition of Sage Schweiz AG (“Sage Switzerland”), one of the leading HCM & ERP software vendors in the Swiss market.
Warburg Pincus acquired Austria-based Infoniqa, one of the fastest growing HR software companies in the DACH region, in September 2020. The acquisition of SAGE Switzerland further expands its presence in Switzerland, nearly doubling annual revenues to EUR 60m and increasing the number of employees to a total of 410.
The acquisition especially strengthens Infoniqa’s positioning in the strategically important segment of small and medium-sized enterprises. Its product portfolio will be broadened to include ERP solutions, financial management software as well as payroll and HCM solutions tailored to local Swiss requirements. These products are highly compatible with Infoniqa’s offering, resulting in excellent synergy potential.
CODEX Partners provided the commercial due diligence of Sage Switzerland for Infoniqa.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
German Equity Partners V, a private equity fund managed by the independent German investment company ECM Equity Capital Management GmbH (‘ECM’), has acquired a majority stake in Ludwigsburg-based ACADEMY Group, the leading provider of invoicing, factoring, driving instructor training and franchise services in the German driving school market. GEP V acquired the shares from a long-standing private investor.
As a leading specialist in invoicing services and factoring for driving schools with an annual factoring volume of approx. 170 million EUR, DATAPART Factoring GmbH forms the core of the ACADEMY Group. Around this offering, the Group has established a number of other services along the value chain of driving schools. The subsidiary DVPi operates facilities for driving instructor training in Frankfurt am Main and Hamburg. In addition, under the umbrella brand ACADEMY, the Group operates the largest franchise system for driving schools in Germany at more than 300 locations.
CODEX Partners provided the commercial due diligence of the ACADEMY Group for ECM.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
German Equity Partners V (“GEP V”), a fund managed by independent German investment company ECM Equity Capital Management GmbH (“ECM”), has acquired a majority equity interest in telematics software specialist YellowFox GmbH (“YellowFox”) in the context of a partnership investment.
YellowFox offers modular, cloud-based software-as-a-service (SaaS) solutions for digital fleet and object management. The company is one of the fastest-growing providers of intelligent telematics solutions in Europe. Some 60,000 vehicles and movable assets – such as heavy trucks, vans, passenger cars, construction machinery and containers – are already equipped with telematics solutions provided by YellowFox. These significantly contribute to more transparency, productivity,cost savings as well as compliance with applicable regulations. The company was founded in 2003 with headquarters in Kesselsdorf near Dresden and employs 70 people today.
CODEX Partners supported the Commercial Due Diligence of YellowFox for ECM Equity Capital Management.
CODEX Partners supports investors in commercial and vendor due diligence, in strategy development and value enhancement projects for portfolio companies and in buy & build platforms. CODEX Partners has served clients in more than 500 projects.
NORD Holding has acquired a majority stake in Dr. Födisch Umweltmesstechnik AG. The transaction was executed with the participation of WMS Wachstumsfonds Mittelstand Sachsen. The Födisch family as well as the founder and Chairman of the Board of Directors Dr. Holger Födisch also remain shareholders of the company. Together with NORD Holding and WMS the aim is to expand the market position and to continue the successful growth course of recent years.
Dr. Födisch Umweltmesstechnik AG is a leading manufacturer of emission technology for monitoring environmentally harmful gases, dust, and volume flows. Fields of application are emission monitoring (CEMS: Continuous Emission Monitoring Systems), process and environmental measurement technology and recurring tests of stationary measuring equipment. The medium-sized company operates in a market environment that has been growing steadily for years, driven by global megatrends and stricter environmental regulations. Dr. Födisch Umweltmesstechnik AG currently has more than 180 employees.
CODEX Partners provided the Commercial Due Diligence of Dr. Födisch Umweltmesstechnik AG for NORD Holding.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
NORD Holding, together with an experienced management team led by Mr. Wilhelm Evers, is pursuing a buy-and-build strategy in the premium hearing care market. The acquisition of parts of the oton-/Ohrwerk Group (29 stores) lays the foundation for the planned acquisitive growth to over 150 stores.
With the buy-and-build platform NORD Holding addresses the increasing demand for high-quality hearing aids and customer-oriented service in strong contrast to established branch concepts.
CODEX Partners advised NORD Holding on the development of the hearing care stores buy-and-build strategy.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
Funds advised by DPE Deutsche Private Equity Management III GmbH (“DPE”) have acquired a majority stake in M-Sicherheitsbeteiligung GmbH (“Mehler Vario System”) from the investment holding Amira. DPE will support Mehler Vario System in further growth and stand by its side as a strong business partner.
Mehler Vario System is the leading European provider of ballistic protection vests, tactical equipment and clothing as well as vehicle protection systems. The firm is domiciled in Fulda and employs around 600 people on five locations in German, Slovenia, and Serbia generates over 100 million EUR revenues.
CODEX Partners provided the commercial due diligence of Mehler Vario System for DPE.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
Funds advised by Warburg Pincus LLC have reached an agreement to invest in INFONIQA, a leading supplier of HR software and service solutions in DACH countries, alongside existing investors Elvaston and INFONIQA management.
INFONIQA, founded in 1988 in Austria, is a software and services solutions specialist across all areas of administrative and strategic human resources such as personnel management, payroll accounting, time management, and outsourcing. The business provides services to over 3,500 corporate customers, managing over 2 million payslips. INFONIQA also offers payroll outsourcing services, software hosting (SaaS), consulting, and training.
CODEX Partners provided the commercial vendor due diligence of INFONIQA.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
Funds advised by DPE Deutsche Private Equity Management III GmbH (“DPE”) have acquired a majority stake in B plus L Infra Log GmbH (“B plus L”) and Defoxx GmbH. DPE will support the B plus L Group in its further growth.
B plus L is a leading full-service provider of construction site infrastructure services and operator of container systems in Germany and, with around 1,000 active projects, is one of the fastest-growing construction site service providers on the market. The company provides its customers throughout Germany with central construction site facilities, site electricity, construction water, lighting, elevators, sanitary facilities, meeting rooms, traffic control, access control, and security solutions. B plus L was founded in Dresden in 2009 and has 250 employees.
CODEX Partners provided the commercial due diligence of B plus L for DPE.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
Trill Impact has acquired a majority share in Nordomatic, a leading independent partner for property owners in building automation, focusing on “smart buildings” and energy efficiency with a presence in Sweden, Denmark and Norway. Trill Impact, based in Stockholm, is a private equity firm targeting mid-sized companies in Northern Europe with the potential to accelerate value creation while contributing to the Sustainable Development Goals.
Nordomatic offers Building Management Systems (BMS) for new projects, retrofits, upgrades and services, including cloud-based smart systems. The company has experienced substantial growth in recent years and generated pro-forma revenues of about SEK 880m (EUR 85m) in 2019. Nordomatic was founded in 1967 and is headquartered in Stockholm with more than 400 full-time employees at 20 locations in Sweden, Denmark and Norway.
CODEX Partners supported the commercial due diligence of Nordomatic for Trill Impact.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization, and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.
For further information about CODEX Partners and our experiences, please contact Dr. Rüdiger Maaß (ruediger.maass@codex-partners.com).
Hg has entered into an agreement to invest in F24. Hg will invest in a stake currently owned by Armira and co-founder Ralf Meister, and will become the majority shareholder in the business. The investment in F24 will be made from Hg’s Mercury 2 Fund. F24 management will remain significantly invested in the business, alongside Hg.
F24 is a pan-European sector leader for emergency notification, crisis & incident management and critical communications with more than 2,500 clients in over 100 countries, headquartered in Munich, Germany. F24 partnered with Armira in 2017 and has since then more than doubled its sales by executing a successful growth strategy including three acquisitions and integrations. Hg’s investment now marks the starting point of the second phase of F24’s buy-and-build strategy to accelerate further growth of F24 and Hg’s continuation to focus on businesses providing critical SaaS solutions across Europe.
CODEX Partners supported the commercial due diligence of F24 for Hg.
CODEX Partners advises investors on commercial and vendor due diligence, on strategy development, cost optimization and restructuring of portfolio companies as well as on the development of industry platforms. Investors benefit from our experiences from over 500 projects.