Arma Partners is pleased to announce that it has acted as financial advisor to Permira on the sale of its minority stake in HR software leader P&I to Hg. The transaction values P&I at €5.5 billion. Permira will fully exit the business after investing in 2016, while Hg will continue to be the majority shareholder in P&I.

Founded in 1968 and headquartered in Germany, P&I is a leading provider of modern, cloud-based HR solutions, offering cutting-edge technology to streamline and optimise HR processes. P&I has grown substantially during the last few decades. Revenue now exceeds €300 million, having grown a further 20% in the last year. The company serves more than 15,000 customers across Europe, ranging from SMEs and large corporations to public sector entities, that rely on P&I’s HR platform.

Permira has partnered with P&I management over the past nine years to develop a long-term strategy to realise the business’s growth potential. Together, they have driven several key initiatives to enhance P&I’s go-to-market strategy, team, and operations; made significant investments in R&D and product innovation; and launched P&I’s new SaaS product, LogaHR, which has been a major driver of growth for the company.

This landmark transaction highlights Arma Partners’ deep expertise in HCM and Payroll software and consistent track record of successfully advising global private equity investors on landmark multi-billion transactions. It also underscores the firm’s strong position in the DACH region.