Andera Partners leads €100m investment in HR Path

Ardian, which backed the owner buyout of HR Path alongside Activa Capital and Societe Generale in 2017, is understood to have exited the business.

BNP Paribas, Societe Generale, Crédit Agricole Ile-de-France and Banque Palatine provided debt to make up part of the funding.

As part of the transaction, fresh capital will be available for international expansion.

Previous funding
In June 2015, HR Path raised €5m from Ardian and Societe Generale Capital Partenaires (SGCP). The round was split evenly between Ardian and SGCP.

Activa, Ardian and SGCP then backed the owner buyout of HR Path in 2017, providing approximately €25m in equity.

Company
HR Path was founded in 2001 and is headquartered in Paris. The business provides IT software and advice on payroll and staff management issues. It currently employs 800 people and reported sales of €95m in 2018. It forecasts revenues of €130m in 2020 and €240m within five years.

People
HR Path – François Boulet (co-founder, CEO).

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• Topics
• Buyouts
• France
• Technology
• France
• Andera Partners
• Ardian (formerly Axa PE)
• Secondary buyout