Seeks To Invest in Customer Base for SAP Human Capital Management
Filderstadt, 10 October 2013 – All for One Steeb AG, the leading integrated full-service provider in the German-speaking SAP midmarket segment, intends to further expand its activities relating to SAP Human Capital Management. To accomplish this, increased investments in the customers and services of its largest Group company are intended. The equity interest in the subsidiary KWP Kümmel, Wiedmann + Partner Unternehmensberatung GmbH, Heilbronn, (KWP), is to be increased from its current 56% to 100%. KWP shareholder and managing director Hartmut Kümmel intends to contribute his share of KWP in the amount of 34% of the nominal capital in return for which he is to receive 122,000 new shares of All for One Steeb AG stock and a cash payment. This action would involve increasing All for One Steeb AG’s share capital – presently EUR 14.58 million and divided into 4,860,000 registered shares – to EUR 14.946 million divided into 4,982,000 shares. The interest in KWP held by Joachim Volpert (10% of the nominal capital) is, however, to be compensated for in cash.
The management board of All for One Steeb AG reached an underlying agreement about the terms of the transaction with Kümmel and Volpert on 10 October 2013. The management board is expected to adopt the resolution for the capital increase before the end of autumn 2013. The capital increase and the agreements to be concluded in connection with the acquisition of the shareholdings still require the approval of the supervisory board, and the increase in the equity interest in KWP may also require authorisation from antitrust authorities.
Following a robust growth phase in recent years, KWP is recognised as a market leader for SAP ERP Human Capital Management, most recently (financial year 2011/12) generated revenues of nearly EUR 17 million and currently employs more than 140 people.
Hartmut Kümmel and Joachim Volpert, KWP managing directors: »In only four years All for One Steeb more than doubled its revenues and has risen to become the recognised Number 1 in the German-speaking SAP midmarket segment. This is the kind of remarkable success story to which we intend to add many more exciting chapters. This is also why we are now closing ranks and sending a clear signal of the great things to come for our customers and employees alike. We’ll remain dedicated and involved for the long term in our roles as both managing directors of KWP within the All for One Steeb Group and as shareholders. We intend to vastly expand our mutual customer base through an interlocking and complementing range of products and services«.
Lars Landwehrkamp, CEO of All for One Steeb AG: »On its own, and over the decades, KWP has established a powerful brand thanks to its consistent focus on the SAP HCM market. All for One Steeb and KWP together already serve an installed base of more than 2,000 customers. Increasing our equity interest will enable us to develop this potential more intensively. We will build an even stronger profile, score points with our own offerings of SAP Cloud Solutions and SuccessFactors, and clearly position the benefits of our private cloud services to customers when choosing between outsourcing the IT operations or running them in house«.