Milbank LLP advised Maguar Capital ("Maguar") on the financing of the acquisition of HRworks Holding GmbH ("HRworks") by Maguar Continuation Fund I GmbH & Co. KG ("Maguar CF I"). 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. The successor fund Maguar Capital II GmbH Co. KG (“Maguar Fund 2”) as well as the management team of HRworks invested alongside Maguar CF I in HRworks.
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 25 years of experience, HRworks is one of the leading experts for digital HR cloud solutions within the DACH region. HRworks offers a holistic HR software. In addition to travel expense accounting, small and medium-sized enterprises (SMEs) can also handle time recording, HR administration, preparatory payroll accounting and more via HRworks.
The Milbank team that advised Maguar on the financial aspects of the transaction was led by partner Barbara Mayer-Trautmann and included special counsel Jennifer Seipelt as well as associate Anna Merkl (all Finance).
