News

Raet announces investment by HgCapital

23 March 2016

Raet, a leading HR solutions provider, specialized in HR cloud software and services, announced a majority investment by HgCapital. HgCapital will back existing management and its growth strategy and assume majority ownership from the management shareholders and CVC Capital Partners. The terms of the transaction were not disclosed.

Raet has been active in the Netherlands since 1965. It currently employs over 1,000 staff and enables HR for some three million people internationally through its cloud solutions. The company serves over 10,000 customers and today has a presence in the Netherlands, Belgium, Spain, Argentina, Peru, Chile and Colombia.

Raet’s growth strategy aims at further broadening its HR solutions portfolio and expanding its international presence to support all future strategic HR needs of people in organizations. 

Justin Von Simson, Partner and Head of the Munich office, said “We have known and tracked Raet for a number of years. The business has a fantastic position in the Dutch market and we have been greatly impressed by the new management team who have been spearheading the development of Raet beyond its home markets to a wider international audience since 2014. We are excited by the opportunity to support the team in these endeavours going forward”.

"Ed Wielechowski, a Principal in the HgCapital TMT team, commented, “we are very pleased that Kobe and his team chose HgCapital as their new investor. Raet has an opportunity to become a leading global provider of broad HR cloud software and services over the next few years and we will support this through our deep TMT sector expertise”.  

“We are delighted to be partnering with the HgCapital team as we take our business forward with the vison of achieving sector leadership across HR software and HR services,” said Kobe Verdonck, CEO of Raet. “I am grateful for the hard work of our employees, as well as the support from CVC Capital Partners over recent years, all of which has enabled our continued growth and initial international expansion.”

About HgCapital

Further information on HgCapital is available at: www.hgcapital.com 

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