Herter & Co. advises Rivean Capital on the financing of the acquisition of Perbility Holding GmbH (“Perbility”) from the existing majority shareholder Main Capital Partners. The transaction is currently pending anti-trust approvals.
Perbility is one of the leading providers of comprehensive and cloud-native human capital management (HCM) software, covering the entire HCM value chain. The new partnership intends to accelerate the company’s up- and cross-selling efforts across its existing customer base, while further expanding its comprehensive HCM suite – the HELIX platform – with new modules. Under Rivean Capital’s ownership, Perbility plans to strengthen its organizational capabilities, especially its sales team, which will enable the company to expand its reach into the (semi-)public and B2B markets and pursue geographic expansion within the DACH region, incl. via additional strategic add-on acquisitions.
Herter & Co. coordinated a high-paced, competitive process and structured an overall financing package of c. €100m which was ultimately underwritten by Bridgepoint Credit, the alternative asset fund management group. The financing package includes a unitranche facility as well as committed add-on acquisition facilities to support the group’s organic and inorganic growth going forward.
“Herter & Co. successfully executed a strategy which provided us with a very attractive financing package ahead of the ambitious timetable, which gave us an important advantage in the auction process. As usual, the highly involved and strongly engaged workflow at Herter & Co. allowed us to focus on the due diligence and negotiations with the sellers and management,” says Matthias Wilcken, Senior Partner at Rivean Capital.
Herter & Co. is acting as Sole Debt Advisor to Rivean Capital on this transaction. Herter & Co. is a Teneo Company.
Founded in 2009 and headquartered in Bamberg, Germany, Perbility is a software provider of cloud-based HR software solutions. With a dedicated team of approx. 160 full-time employees, the company specializes in delivering flexible and intuitive tools that help organizations digitize their HR workflows and enhance operational efficiency. With a diverse customer base of over 1,500 clients, primarily in the German mid-market, Perbility is committed to empowering organizations to optimize their HR processes and drive workforce success, covering the HCM value chain, including talent acquisition, core HR, organizational planning, talent management, employee experience and engagement, and administrative digitization.
Rivean Capital is a leading European private equity investor for mid-market transactions, active in the DACH region, the Benelux countries and Italy. Funds advised by Rivean Capital manage over EUR 5 billion in assets. Since its inception in 1982, Rivean has supported more than 250 companies in realizing their growth ambitions and has a strong track record of supporting and scaling successful high-tech businesses with cross-border growth agendas, including footprint expansions and operational excellence trajectories. Headquartered in Amsterdam, Netherlands, Rivean Capital also has offices in Brussels, Frankfurt/Main, Milan and Zug, enabling a strong local presence across key European markets.
