The Carlyle Group, with equity from the Carlyle Europe Technology Partners (CETP) IV fund, has acquired a major stake in CSS AG (CSS), a leading German business software provider with a focus on accounting, controlling and human resources (HR) software. Majority shareholder Michael Friemel will retain a large minority stake in CSS and will continue to lead the company as CEO.
Founded in 1984, CSS is headquartered in Künzell, Germany, and serves and supports its customers from eight additional regional offices. CSS is the only vendor with a fully integrated all-in-one business solution, named eGECKO, for accounting, controlling and HR modules which is specifically targeted at the needs of local and multinational German mid-market customers. It serves approximately 2,500 customers across a wide range of industries. Carlyle will work alongside the CSS management team to support the company‘s growth through the further development of its eGECKO solution via synergetic acquisitions and the offering of cloud solutions.
CODEX Partners provided the Commercial Due Diligence of CSS AG for Carlyle.
CODEX Partners advises investors on commercial due diligence 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 experience from over 500 projects.
ARMIRA has acquired a majority stake in Salesfive. Salesfive GmbH is a leading digital transformation consultancy and top five full-service Salesforce partner in German-speaking Europe.
Founded in 2017 and headquartered in Munich, Germany, Salesfive is a strategic digitalisation and IT sparring partner shaping digital transformation pathways for its clients. The company offers full-service solutions along the entire project lifecycle and across the entire Salesforce software suite. It has a highly sought-after and constantly growing platform of around 100 Salesforce experts with over 270 Salesforce certificates. Salesfive is uniquely positioned and has an ever-increasing and sticky customer base ranging from medium-sized companies to blue-chips.
ARMIRA is a holding group focused on equity investments between €20m to €200m in market-leading medium-sized “Mittelstand” businesses in Germany, Austria and Switzerland (DACH). With its unique capital base from entrepreneurs and entrepreneurial families, ARMIRA has the flexibility to invest without a fixed term and can focus on the long-term development of its portfolio companies.
CODEX Partners provided the commercial due diligence of Salesfive for ARMIRA.
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.