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About HRworks

HRworks, founded 1999 by Thomas Holzer, is an integrated Software-as-a-Service (SaaS) HR software provider for the SME (small medium enterprises) segment in Germany. The company focuses on business-critical HR functions such as time management, travel expenses, personnel management, recruiting and corporate benefits. For over 20 years, HRworks has delivered uninterrupted profitable growth and is currently serving 210,000 users and over 1,600 customers. The company is running a highly scalable technology platform and currently employs 60 FTE located in its offices in Berlin, Frankfurt and Freiburg im Breisgau.

hrworks.de

Maguar Capital acquires together with EMZ and other co-investors the majority of HRworks. EMZ provides a mix of subordinated debt and co-investment capital.

The European Private-Equity Company EMZ Partners invests alongside Maguar Capital and other co-investors in HRworks GmbH, headquartered in Freiburg. Next to Lead-Investor Maguar Capital and EMZ Partners other co-investors become shareholder in the company. The founder and sole shareholder of the company, Thomas Holzer, continues to be involved with the company.

HRworks, founded 1999 by Thomas Holzer, is an integrated Software-as-a-Service (SaaS) HR software provider for the SME (small medium enterprises) segment in Germany. The company focuses on business-critical HR functions such as time management, travel expenses, personnel management, recruiting and corporate benefits. For over 20 years, HRworks has delivered uninterrupted profitable growth and is currently serving 210,000 users and over 1,600 customers. The company is running a highly scalable technology platform and currently employs 60 FTE located in its offices in Berlin, Frankfurt and Freiburg im Breisgau.

We are delighted to become part of HRworks and to support the company alongside Maguar Capital and other shareholders to realize its future growth plans. The longstanding software experience and hands-on approach of Maguar Capital are an excellent basis for the future development of the company”, says Klaus Maurer, Partner in the Munich office of EMZ.

Arno Poschik, founding partner of Maguar Capital, adds: “We are pleased to have won EMZ as financing partner and co-investor for HRworks. The pragmatism of the EMZ team as well as the structuring flexibility for the transaction is unique and adds a lot to the transaction”.

Completion is subject to regulatory approval and the terms of the transaction were not disclosed. The investment in HRworks is already the second transaction of the German EMZ team around Klaus Maurer and Guntram Kieferle that started only at the beginning of the year.

EMZ was advised by Latham & Watkins (Legal, Corporate und Structure).