POELLATH advises CEO and management of P&I AG on additional investment by Hg
Private equity investor Hg Capital (“Hg”) has increased its stake in Personal & Informatik AG (“P&I”), a leading provider of modern, cloud-based HR solutions, and acquired a minority stake from global investment firm Permira. Hg acquired the P&I Group from financial investor Carlyle in November 2013. Funds advised by Permira became the majority shareholder of P&I in 2016, before Hg reacquired the majority stake in P&I in 2019. The transaction is based on a valuation of EUR 5.5 billion. POELLATH provided comprehensive legal and tax advice to the CEO and management of P&I AG on both the sale to Hg and the subsequent reinvestment.
Wiesbaden-based P&I AG is one of Europe’s leading providers of cloud-based HR software. Founded in 1968, the company offers products and services to simplify and automate HR processes in companies and organizations. Over 400 employees currently serve more than 15,000 customers throughout Europe, ranging from SMEs and large-scale enterprises in all industries to public sector customers of all sizes.
Hg is a leading private equity firm focused on investments in software and service companies in Europe and North America. The company currently manages more than USD 75 billion in assets in a portfolio of more than 50 companies.
POELLATH provided comprehensive legal and tax advice to the CEO and management of P&I in connection with the transaction with the following Munich-based team:
- Dr. Tim Kaufhold (partner, lead, M&A/private equity)
- Dr. Nico Fischer (partner, tax law)
- Dr. Verena Stenzel (associated partner, M&A/private equity)
- Dr. Moritz Klein (associated partner, M&A/private equity)
- Nemanja Burgić (counsel, M&A/private equity)
- Amélie von Halem (associate, M&A/private equity)
- Michael Schwarz (associate, tax law)
- Benedikt Sinz (associate, M&A/private equity)
