PE-backed Visma buys Unit4's VerzuimSignaal

Visma already has some absence management products; the acquisition of VerzuimSignaal is expected to strengthen its position in this market, on top of further expanding its activities in the Netherlands.

Hg bought a 63% stake in Visma in Q2 this year, through the Saturn Fund and Hg7. Singapore sovereign wealth fund GIC, Intermediate Capital Group, Montagu Private Equity and Canada Pension Plan Investment Board are significant co-investors in the business. Visma increased its valuation from €450m in 2006 – when Hg first invested – to €6.5bn, Unquote reported in April. It generated net turnover of €1.19bn in 2018 and employs 9,500 people. 

Advent's Unit4 has been looking to sell four of its subsidiaries since the summer, with Houlihan Lokey advising, Unquote sister publication Mergermarket previously reported. Unit4 was among the divisions on the block.

Previous funding
Advent acquired Unit4 in 2013 via its Advent International GPE VII vehicle.

The GP was looking to sell the asset last year, but the auction process was eventually abandoned. CVC Capital Partners and Bain Capital made conditional offers, but they were below the asking price of $2.5bn, leading Advent to halt the talks, Dutch publication De Financieele Telegraaf reported at the time. 

Company
VerzuimSignaal operates an online and mobile platform for people involved in absence management. It helps preventing absenteeism and reintegrate employees after an absence period.

Founded in 1980, software developer Unit4 is based in Utrecht. It generated a €180m EBITDA in 2018, according to Mergermarket.

People
VerzuimSignaal – Danny Sanders (managing director).  

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