Lea Partners' Landwehr acquires Prosoft

Prosoft will also strengthen Landwehr's product offering in the area of recruitment software via its Prosoftrecruitment platform, according to a statement.

Unquote sister publication Mergermarket reported in February 2020 that Prosoft was seeking to partner with a strategic investor to support its future growth.

Lea Partners acquired Landwehr in April 2019, investing via Lea Mittelstandspartner Fund, which held a final close in May 2018 on €200m. The GP planned to assist Landwehr with add-on acquisitions. The company bolted on RHB Software in November 2019.

Landwehr now has 330 employees across four locations in Germany, serving 3,200 customers.

Company
Prosoft is based in Regensburg and was founded in 1984. The company produces HR software, offering products including AÜOffice, an enterprise resource planning platform targeted at temporary staffing agencies, as well as its recruitment platform Prosoftrecruitment.

Prosoft has 70 employees. It reported revenues of €8.3m and an EBITDA of €2.9m for the financial year ending 30 June 2019.

People
Lea Partners – Sebastian Müller (founder).
Landwehr – Marc Linkert (managing director).
Prosoft – Axel Wegmann (founder).

Advisers
Acquirer – GCA Altium (debt advisory); KWM (legal).
Vendor – Bryan Garnier & Co (M&A).

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