Bregal sells majority stake in proAlpha to ICG

Financial details were not disclosed.

Bregal Unternehmerkapital acquired the German firm in August 2013 from PE firm Beaufort as well as proAlpha founders Leo and Werner Ernst. It secured a majority stake in excess of 70% in the manufacturer of enterprise resource planning (ERP) software.

Following the exit, Bregal will remain involved in the further development of proAlpha through a continuing interest. proAlpha's third founder and head of development Martin Wolf, as well as Jürgen Brand, Markus Klahn and Matthias Kläsener, remained in their positions as management board members and shareholders after Bregal acquired the firm.

Company
proAlpha was founded in Kaiserslautern, Germany, in 1992. Six years later, the firm started expanding in Europe and the US. In 2003, it acquired Bonn-based humanIT Software and three years later bought Axilon, also an ERP software provider. Last year proAlpha acquired the Swiss Codex Group and opened its first office in China. Its revenues were around the €100m mark in fiscal year 2016.

People
Bregal – Florian Schick (partner).
proAlpha – Friedrich Neumeyer (CEO).

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