We are delighted to share that Maguar Capital Capital GmbH & Co. KG, managed by Maguar Capital, a leading B2B software investor in the DACH region, yesterday closed on the sale of its portfolio company HRworks Holding GmbH to a newly established continuation fund, Maguar Continuation Fund I GmbH & Co. KG (“Maguar CF I”).
Maguar CF I has been established to invest exclusively in the company, including its subsidiary HRworks GmbH (“HRworks”), a rapidly growing human capital management software provider focusing on SME customers. The continuation fund will also provide additional capital to continue supporting the highly successful growth strategy implemented since Maguar’s initial investment in the company in 2020.
The transaction, with total equity funding of more than €235 million, was backed by Maguar CF I investors Glendower, Hayfin, abrdn, Golding and additional global institutional investors, as well as successor fund Maguar Capital II GmbH & Co. KG and the company’s management team.
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About Maguar Capital
Maguar Capital, based in Munich, Germany, was founded in 2019 by Arno Poschik, Gunther Thies and Matthias Ick. Maguar focuses on small and mid-cap B2B software investments in the DACH region. The Maguar team has a strong entrepreneurial background and long-term management experience in the tech industry, with more than 35 years of CEO software experience and more than 20 years of private equity experience.
Asante Capital Group is a leading independent private equity placement and advisory group. Founded in 2010, the firm has offices in London, New York City, Hong Kong, and Munich. The team of over 70 professionals has advised on over $80 billion of successful private capital raisings across the globe, raising capital from North American, European, Middle East and Asia-Pacific-based investors. Asante specializes in GP advisory and fundraising support across primary, direct and secondary investments.