GCA Altium acted as financial adviser to HgCapital on the public takeover of P&I Personal & Informatik AG.

Founded in 1968, P&I is the leading German payroll and transactional HR software provider with more than 3,500 enterprise and public sector customers in Europe. P&I is the premium supplier of integrated software solutions for human resources management, especially payroll, web-based personnel management and time management solutions. Additionally, P&I offers services such as implementation, consulting, training and HR outsourcing.

In its latest financial year FY12/13, P&I generated revenues of €82.1 million and an EBIT of €24.0 million. P&I has been listed on the Frankfurt stock exchange since July 1999.

In 2009, The Carlyle Group, via its holding company Argon, acquired a 29.9% stake in P&I and following a voluntary public takeover bid subsequently increased their stake in P&I to over 90%.

Related Transactions

GCA is a trade name for GCA Corporation and its subsidiaries and other affiliates which include:

• GCA Advisors, LLC, a Delaware limited liability company, registered broker-dealer and FINRA (www.finra.org) and SIPC member firm (www.sipc.org). GCA Advisors, LLC provides independent financial advice on matters related to Mergers & Acquisitions, Debt Capital Markets, Recapitalization & Restructuring, Cross Border and Strategic Alliances, Special Committees, Private Funds, Private Placements and Venture Support. Check the background of GCA Advisors, LLC on FINRA’s BrokerCheck (brokercheck.finra.org).
• GCA Altium Limited, a company providing financial advisory services in the UK, Switzerland, Germany, Italy and Israel and incorporated under English law, is authorized and regulated by the Financial Conduct Authority in the United Kingdom and provides independent financial advice on matters related to Mergers & Acquisitions, Debt Capital Markets, IPOs, Recapitalization & Restructuring, Cross Border and Private Placements.
• GCA Corporation, a company incorporated in Japan which provides financial advisory services on matters related to Mergers & Acquisitions, Cross Border, Private Placements & IPOs, Growth Strategy Services, and Post-Merger Integration.
• GCA China Company, Limited, a company incorporated in Shanghai which provides financial advisory services in China on matters related to Mergers & Acquisitions, Cross Border, Mezzanine Financing, Growth Strategy Services, Due Diligence and Post-Merger Integration.
• GCA India Company, Limited, a company incorporated in Mumbai which provides financial advisory services in India on matters related to Mergers & Acquisitions, Cross Border, Mezzanine Financing, Growth Strategy Services, Due Diligence and Post-Merger Integration.
• AMPLIA, a subsidiary of GCA Corporation in Japan, provides Venture Support services in Japan and the US.
• GCA FAS, a subsidiary of GCA Corporation in Japan, provides Due Diligence advisory services and M&A transaction services.
• MCo Corporation, a subsidiary of GCA Corporation in Japan, provides Mezzanine Financing in Japan.