Bahrain’s Investcorp acquires German HR software firm

Bahrain’s Investcorp has announced its acquisition of German HR software provider and job marketplace Softgarden for an undisclosed sum.

The deal is the fourth made by Investcorp’s fourth technology fund.

The company said Softgarden, which has a customer base of midmarket and enterprise customers, is EBITDA positive and had grown more than 35 per cent a year during the 2105-218 period.

It will invest further capital into the business and support expansion into Germany, Austria and Switzerland.

Softgarden co-founder Stefan Schüffler will remain involved with the firm after the acquisition.

“Softgarden presents an attractive opportunity in the German-speaking region and a compelling end-to-end recruitment platform backed by a strong management team,” said Investcorp managing director of tech investments in Europe Gilbert Kamieniecky.

“With our deep history of working with fast-growing, data-centric businesses, this investment is an excellent fit with our broader Technology Partners portfolio.”

Investcorp has made three other investments in Germany so far this year including the acquisition of Stuttgart office campus Bürocampus Wangen and stakes in dental provider Privatzahnarztklinik Schloss Schellenstein GmbH and licensed hospital Acura Kliniken.

The company said last month it expected to make its first direct investments in China and India.

Gulf Business Contribution Time: 03-Sep-2018 10:44 (GMT)
Gulf Business Last Update Time: 03-Sep-2018 10:44 (GMT)