Permira, the global private equity firm, announced today that a company backed by the Permira funds has entered into a definitive agreement to acquire the majority of P&I Personal & Informatik AG (“P&I”) (www.pi-ag.com), a leading German full suite provider of HR software solutions, for an undisclosed sum. The current owner HgCapital will continue to be invested as minority shareholder in the company.
Founded in 1968 and headquartered in Wiesbaden, P&I is a leading supplier of integrated HR software solutions for payroll, human capital management as well as HR cloud and outsourcing services. The company serves more than 15,000 customers, ranging from small and medium-sized private businesses (SMB) to public sector organizations of all size mainly in Germany, Switzerland and Austria (DACH region), with capabilities to serve them in ten other countries. For the last ten years, P&I has delivered strong sales and earnings growth driven by its resilient business model with a high share of predictable revenues and its leading position in the attractive German market which is growing by nearly ten percent per year.
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