Riverside-backed GermanPersonnel bolts on Compana

Riverside acquired the company directly, drawing funds from Riverside Europe Fund V. The fund closed on $340m in September 2017 and was 70% deployed in December 2018, according to an estimate by Unquote Data.

Following the transaction, both companies will remain independent and keep their own brand. The management teams of the two companies will continue to lead the respective companies and will remain shareholders of the combined business.

Riverside is Compana's first institutional investor. Riverside plans to continue supporting the combined company's growth, both organically and through acquisitions.

The firm acquired GermanPersonnel in May 2018 with equity from Riverside Europe Fund V. The company has an EBITDA of approximately €4m, according to Unquote sister publication Mergermarket.

No debt was used in this transaction.

Company
Founded in 1974, Compana is a Germany-based recruitment software provider for the temporary staffing sector. The company is headquartered in Feucht and operates locations in Nuremberg and Cologne. It employs 40 people.

People
Riverside – Michael Weber (partner); Matthias Fink (principal); Florian Halama (senior associate); Bernd Starrock (senior finance executive).
GermanPersonnel – Marco Kainhuber (managing director).
Compana – Axel Trompeter (managing director).

Advisers
Equity – Bluemont (commercial due diligence); EY (financial due diligence, tax); WDP (IT due diligence); Lupp + Partner (legal).

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• Topics
• Expansion
• DACH
• Technology
• Germany
• Riverside
• Build-up
• Buy-and-build