Clearwater advises TimePlan on its sale to Main Capital Partners

Transaction

TimePlan sold to Main Capital Partners

Sell-side

Undisclosed

Role

Adviser to TimePlan on its sale to Main Capital Partners

Sector

Tech & Tech Services

Region

Denmark

Clearwater had advised TimePlan Software A/S (TimePlan), a leading software solutions provider, on its sale to Main Capital Partners.

Founded in 1995 in Aalborg, Denmark, TimePlan is an innovative Danish software vendor of Workforce Management (WFM) solutions. With over 25 years of experience in WFM, the company’s platform has grown into a leading solution within employee scheduling, time and attendance, and HR administration. This allows its international client base to comply with a wide variety of complex labour legislations pertaining to collective agreements. As one of the most profitable software companies in Denmark with an EBITDA of €3.3m (DKK 25m), TimePlan serves a blue-chip customer base across a number of industries throughout Europe, including JYSK, Salling Group, Merlin Entertainment Group, IKEA, and Bauhaus.

Main Capital Partners is a leading software investor in the Benelux, DACH and Nordics, with almost 20 years of experience in strengthening software companies. The private equity firm has invested in more than 150 software companies to date and collaborates closely with the management teams of its portfolio companies as a strategic partner, to realise sustainable growth and build excellent software groups.

Looking ahead, Main Capital Partners will actively support TimePlan in maintaining the strong growth momentum, by further expanding into adjacent customer segments and broadening the offering to its customers. In addition to organic growth initiatives, strategic add-on acquisitions will be an important pillar of the growth strategy, to complement TimePlan’s innovative product portfolio and strengthen its market position.

After realising that the time was right to get in a new investor that could contribute with the experience and expertise that is needed to exploit our full potential, it was obvious for us to choose Clearwater as our adviser. We already had a good relationship and from the beginning of the process, we could feel the human chemistry that is so important to us. The team has run a sharp process with a very high degree of preparation, which has supported the management and me as owner. We have the very best feeling about Main Capital Partners, both chemistry and business-wise, and I am sure that with them we will be able to offer an even stronger product in the future.
Henrik Baasch, Founder, TimePlan

At the moment, we are experiencing a high degree of interest in the market for successful software companies that can grow turnover and maintain high earnings margins. TimePlan is Clearwater Denmark’s eighth tech transaction in the last 18 months. With TimePlan, Main Capital Partners acquires a very well-run platform that we look forward to following in the future.
Per Surland, Partner, Clearwater

TimePlan is a good example of a company delivering business-critical software and creating value for its customers through automatisation of work tasks, which secures a high level of customer loyalty. Once again, it is obvious that thorough preparation is key when handling a competitive process with more than 50 interested buyers. The thorough preparation made it possible to complete the transaction in ten weeks, from the time we had the sales material ready.
Casper Norre, Director, Clearwater