Verdane acquires HR Manager and Webcruiter

It is the third platform investment that Verdane has made from its buyout fund, Verdane Edda, which closed on SEK 3bn in March.

The management team and previous owners of both businesses have invested alongside Verdane for a significant minority stake.

The volume of the investment was not disclosed but the fund has the ability to invest up to SEK 500m. The group expects to generate combined turnover of NOK 104m in 2018.

Verdane plans to expand the group across the Nordic region through organic and inorganic initiatives and already has additional acquisition targets lined up.

Leverage to support the transaction is still being finalised but is expected to be quite conservative due to the ambitious growth plan.

Company
HR Manager is headquartered in Oslo with additional operations in Copenhagen and Stockholm. It develops HR and recruitment software including Talent Recruiter, Talent Onboarding and Talent Manager. It employs 50 people.

Webcruiter is headquarterd in Oslo with additional operations in Stockholm. It also develops recruitment software and employs 30 people.

People
Verdane Capital Advisors – Bjarne Lie (managing partner); Joakim Kjemperud (investment professional).
HR Manager – Lars Christian Ringdal (CEO).
Webcruiter – Fredrik Mæhlum (CEO).

Advisers
Equity – CLP (legal); Deloitte (financial due diligence).
Vendor – Nordhaven (corporate finance); Oslo Finans (corporate finance).

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• Topics
• Buyouts
• Nordics
• Technology
• Verdane Capital Partners
• Norway
• Buy-and-build