Houlihan Lokey Advises Hg on the Acquisition of Permira’s Stake in P&I

Houlihan Lokey is pleased to announce that Hg has agreed to acquire Permira’s stake in Personal & Informatik AG (P&I), a leading provider of modern, cloud-based HR solutions based in Germany. The transaction values P&I at an enterprise value of €5.5 billion.

The transaction will see Hg, a leading investor in European and transatlantic software and services businesses, increase its shareholding in P&I after acquiring a minority stake from Permira, which will fully exit the business.

Founded in 1968 and based in Wiesbaden, Germany, P&I has been at the forefront of HR innovation for more than 50 years, providing cutting-edge technology to streamline and optimise HR processes. The company has grown substantially over the past 20 years to more than €300 million in revenue and serves more than 15,000 customers across Europe, ranging from SMEs and large corporations across all industries to public sector customers of all sizes. P&I’s fully integrated HR cloud platform LogaHR automates HR processes from payroll, time, and workforce management to recruiting and talent management, revolutionising the way businesses approach human resources.

Hg first invested in the company in 2013. Permira became P&I’s majority shareholder in 2016 before Hg reacquired a majority shareholding in 2019. The new investment reflects Hg’s confidence in P&I’s continued growth trajectory. Houlihan Lokey served as the financial advisor to Hg, further cementing the firm’s expertise in the HCM and broader B2B software sectors.

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