Private equity engagement in the area of HR tech

In a rapidly digitalizing work environment with a pronounced shortage of skilled workers, GFOS’ solutions make a critical contribution to competitiveness, planning efficiency, smooth workflows and employee satisfaction. Through industry-specific customization, a modular structure and extensive integration capabilities, GFOS is enhancing organizational efficiency, employee engagement and productivity of currently more than 3,000 customers in over 30 countries. GFOS Group was founded by Burkhard Röhrig in 1988 and subsequently built up and led together with Gunda Cassens-Röhrig. The family business was handed over to the second generation and current management team led by Katharina Van Meenen-Röhrig and Dr Ignace Van Meenen two years ago.

The Riverside Company is a global investment firm focused on being one of the leading private equity and flexible capital options for business owners and portfolio company employees at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm's international private equity and flexible capital portfolios include more than 140 companies.

GFOS is exemplary for Riverside’s labor productivity investment super thesis and another example of the commitment to HR-Tech. To date, funds advised by and members of Riverside have completed more than 280 investments in the Software and IT sector. Riverside has a team of global experts dedicated to advising on profitable growth of SaaS-software companies.

The A&O Shearman team that advised Riverside in connection with this investment comprised partners Dr Astrid Krüger (Munich) and Dr Roman Kasten (Frankfurt), associates Philipp Martin (Frankfurt), Antonia Waltz (Munich) and Georg Dalitz (Frankfurt, all Corporate/M&A).

Furthermore, the team consisted of partner Dr Florian Lechner (Frankfurt) and associate Benn Berger (Hamburg, both Tax); partner Peter Wehner and associate Jan Henrich (both Pensions), partner Dr Sebastian Schulz (all Frankfurt), senior associate Merle Herrmann and associate Houssein Kahin (both Hamburg, all Employment); senior associate Anna Kräling and associate Katharina Jünemann (both IP); partner Catharina Glugla and associate Leander Heine (both Data Protection, all Düsseldorf); associate Hauke Jung (Real Estate); partner Dr Udo H Olgemöller and senior associate Dr Stephan Bühner (both Public Law, all Frankfurt), partner Dr Börries Ahrens, counsel Dr Ioannis Thanos and associate Hannah Bakir (all Antitrust, all Hamburg), partner Anna Masser and counsel Dr Tino Schneider (both Arbitration), partner Dr Tim Müller and associate Paul Matthies (both Compliance, all Frankfurt) as well as associates Dr Maximilian Schmitt (Munich) and Johann Hornberg (Frankfurt, both Corporate/M&A).

A&O Shearman has already advised Riverside on various transactions, on the acquisition of Dastex and Vita Verita as well as of virtual cloud solutions, in 2022 both on the acquisition of GFP and on the sale of the REPA group, 2021 on the sale of its shareholding in ACTINEO and on the Bike24 IPO as well as in 2019 on its investment in Toolport.

For more information please contact: Ayfer Ekingen, Frankfurt am Main, Tel: +49 69 2648 5840 (ayfer.ekingen@aoshearman.com).