Hannover Finanz sells Corporate Planning to ICG's ProAlpha

Hannover Finanz generally invests in German Mittelstand businesses with revenues of around €20m, focusing on succession solutions, MBOs, MBIs and carve-outs for stable companies operating in growing sectors. The GP typically holds its investments for eight to 10 years.

The GP acquired an 89% stake in CP Corporate Planning in 2017 in a succession solution deal, subsequently bringing in Matthias Kläsener as part of the MBI.

Hannover Finanz said in a statement that the GP assisted the company with its transition to a management-led business, as well as refining the company's focus on cloud-based software and expanding its sales channels. The company also expanded via the acquisition of Hi-Chart in July 2020.

ICG acquired a majority stake in ProAlpha alongside the company's management team from Bregal Unternehmerkapital in August 2017. The deal valued the company at around €500m, according to Unquote Data. According to Unquote sister publication Debtwire, Bank of Ireland, RBI, HSBC, ING, NIBC, Commerzbank and SEB provided senior debt of €150m and a rolling credit facility of €10m to support the deal.

Company
Founded in 1989, CP Corporate Planning is a software platform for corporate management, serving medium-sized companies and offering functions including financial and operational planning. The company serves around 4,000 clients and is headquartered in Hamburg, with nine further locations.

According to its latest financial statement, the company's 2019 turnover was 8% (€1.6m) greater than the figure posted in 2018, with its revenues from subscriptions doubling to €1.59m. The company posted revenues of €14m in 2017 and €17m in 2020.

People
Hannover Finanz – Christian Lömker (investment manager); Jürgen von Wendorff (board member); Jörg Caesar (partner); Christina Silberberger (partner, general counsel).
CP Corporate Planning – Matthias Kläsener (CEO).

Advisers
Vendor – GCA Altium (M&A); Milbank (legal).

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