Mubasher: Investcorp Technology Partners, a fully owned subsidiary by Investcorp, announced on Monday the takeover of Berlin-based Softgarden, a fast-growing Human Resources (HR) software provider for an undisclosed sum.
This investment is considered the fourth deal from Investcorp’s fourth Technology Fund, according to an official statement.
Softgarden, which was founded in 2005, offers a platform for innovative recruitment technology over a diversified set of German midmarket and enterprise customers.
“Softgarden is EBITDA positive and has been able to grow rapidly (2015-2018 CAGR of +35%) as companies increasingly seek specialised technology solutions to help them attract new employees in highly competitive labour markets,” Investcorp said in the statement.
The Bahraini company mulls investing further capital into the business to drive expansion in Investcorp’s core markets of Germany, Austria, and Switzerland.
Softgarden CEO Mathias Heese said that “the investment is a testament to the attractive business we have built thus far and we look forward to this exciting new chapter.”
Germany represents a core market for Investcorp with the firm having already made three investments in the European country in 2018.
In April, the Bahrain-based private equity firm acquired Bürocampus Wangen, a modern office campus in Stuttgart and its first German real estate investment as part of a broader pan-European strategy.
In May, Investcorp announced that it had established a platform to enter the German dental sector via its investments in Privatzahnarztklinik Schloss Schellenstein GmbH, one of the leading centres for implantology and dental surgery, and Acura Kliniken, a licensed hospital in Albstadt.