Goodwin has advised Joh. Berenberg, Gossler & Co. KG (Berenberg) on the financing of the acquisition of HRworks Holding GmbH ("HRworks") by Maguar Continuation Fund I GmbH & Co. KG ("Maguar CF I"), a newly established continuation vehicle, managed by Maguar Capital. HRworks was the initial investment of Maguar's first flagship fund ("Maguar Fund 1") in 2020 and has now been transferred to Maguar CF I to unlock further growth potential.
HRworks, an integrated Software-as-a-Service (SaaS) human capital management software provider for small- and medium-sized businesses in Germany, was sold by Maguar Capital having been its first investment in 2020.
Maguar, based in Munich, was founded in 2019 and focuses on mid-cap B2B software investments in the DACH region. The Maguar team has a strong entrepreneurial background with many years of experience in the tech industry as well as more than 35 years of CEO software experience and more than 20 years of private equity experience.
With its Wealth and Asset Management, Investment Banking and Corporate Banking divisions, Berenberg is one of the leading private banks in Europe. Headquartered in Hamburg, Germany, Berenberg has built up a strong presence in the financial centers of Frankfurt, London and New York in recent years and is represented with around 1,600 employees in 18 locations in Europe and America.
The Goodwin team consisted of Winfried M. Carli and Folko Moroni (both Finance/Private Equity, Munich).
For further information please see press release here.