Silver Lake buys HR software Silae

The deal is expected to close in Q3 2020 and is subject to regulatory approval.

The company's founders, Jean-Paul Bagou, Michel Delolme, Didier Fléchet, Philippe Marty and Daniel Mayet, have sold their shares to Silver Lake, but will remain involved with the business, according to a statement.

The deal is valued at more than €500m, according to sources familiar with the situation cited by the Financial Times.

The transaction is currently an all-equity deal.

Silver Lake plans to support the company through new product launches to expand its software offering for companies.

Silver Lake is currently deploying equity from Silver Lake Partners V, which held a final close in April 2017 on $15bn. The GP was expected to launch its sixth fund in Q2 2020 with a target of $16-18bn, according to Unquote Data.

Company
Founded in 2010 and based in Aix-en-Provence, Silae provides a software-as-a-service platform to automate HR and payroll functions. Its client base comprises more than 550,000 businesses in France, according to a statement.

The company has doubled its revenues and tripled its EBITDA in the past two years, according to a statement. Silae also aims to expand its payroll software client base, meaning it will serve four million employees by the end of 2020. It has 150 employees.

People
Silver Lake – Christian Lucas (co-head of Silver Lake EMEA).
Silae – Jean-Paul Bagou, Michel Delolme, Didier Fléchet, Philippe Marty, Daniel Mayet (founders).

Advisers
Equity – Skadden (legal).

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