HR Solutions Business Division Expanded / 60% Stake in team HR
Filderstadt, 06 July 2009 – All for One Midmarket AG is further expanding its HR Solutions business division. At the heart of these operations is the company’s 56% equity interest in KWP Kümmel, Wiedmann + Partner Unternehmensberatung GmbH (KWP), Heilbronn, which recently signed a purchase agreement to buy a 60% stake in team HR Organisationsberatung Personalwirtschaft GmbH (team HR), Düsseldorf.
team HR is an SAP consulting company that specialises in personnel administration, time management and payroll operations. The company, which was established in 1999, is very well-positioned in South and Northwest Germany, operates across all industries, serves numerous prestigious companies and is geared to the major client sector. The consulting company has 11 permanent members of staff and expects to post sales revenues of approximately EUR 2.4 million with a double-digit EBIT margin in 2009. No changes will be made in the company’s management, which will continue to hold a 40% interest in the company. In addition to a fixed share of about EUR 0.5 million, the price for the 60% stake includes variable purchase price components, the amount of which will depend on the results achieved by the company in the years 2009, 2010 and 2011.
This majority shareholding in team HR will not only further strengthen KWP’s market presence in Germany, but also improve its access to major customers for products and services such as eRecruiting, performance management, human resources controlling, electronic personnel records and eHR portal applications. With now over 780 established customers, the HR Solutions business division of All for One Midmarket AG estimates that it will hold a market share of over 20% in Germany.