Invest AG buys TTI Personaldienstleistung

The deal sees the company sell a reported 90% stake to the two investment arms of the Raiffeisenlandesbank Oberösterreich (RLB), Invest AG and OÖ Betfonds.

The company's founder, Johann Höfler, will retain the remaining 10% in the business.

Invest AG manages an evergreen fund, investing in both equity and mezzanine, and currently has 27 companies in its portfolio, based across Austria and southern Germany.

The transaction is subject to regulatory approval and is expected to complete in September 2017.

Company
Headquartered in St Florian, Austria, TTI focuses on HR management including the provision of personnel, integration leasing, payroll accounting and special personnel consulting contracts.

Founded in 1989, the group has 154 employees and posted a €160m turnover in 2016, according to public documents.

People
Invest AG – Andreas Szigmund (CEO).
TTI Personaldienstleistung – Johann Höfler (founder).

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