Munich, Germany – Maguar Capital Partners, a German private equity fund focused on small-cap software investments in the DACH region, is pleased to announce a strategic partnership with TimeTac, a leading time-tracking software solutions provider based in Graz, Austria. The investment, which includes a substantial roll-over from existing shareholders, marks the second investment of Maguar Fund II.
Founded in 2009 by Bernd Pichlbauer, Michael Hermann and Thomas Puchleitner, TimeTac has established itself as a key player in the HR tech sector, particularly in the area of time tracking software. The company currently has 70 employees and serves a broad SME client base of more than 3,800 customers in the DACH region. The company offers a comprehensive cloud-native time and attendance software solution. Based on the company’s vision „Across the Globe We Help to Use Time in a Meaningful Way“, TimeTac improves transparency in organisations and enables teams around the world to find time for the things that really matter. Maguar’s investment will support the company’s continued organic and inorganic growth plans, leveraging its strong regional market position and innovative and easy-to-use software solutions.
Headquartered in Munich, Germany, Maguar Capital was founded in 2019 by Matthias Ick, Gunther Thies and Arno Poschik. Maguar focuses on investments in small and medium-sized B2B software companies in the DACH region. The Maguar team has strong entrepreneurial and extensive management experience in the technology industry, with more than 35 years of experience as software CEOs and more than 20 years of experience in the private equity industry. Recent investments in related areas such as HRworks, Effectory and Ingentis have helped to build a deep understanding of relevant and repeatable value creation themes.
Bernd Pichlbauer, Founder and CEO of TimeTac, said: „The partnership with Maguar Capital is a strategic step forward for us and will enable us to further accelerate our growth trajectory. Their deep understanding of the HR software landscape as well as their commitment to our vision assures me that we are on the right track to achieve our ambitious goals. This is especially relevant in light of the ongoing regulatory discussions around mandatory time tracking for basically all companies in Germany“.
Johannes Losbichler, Director at Maguar, added: „Our entire team is very excited to welcome TimeTac to the Maguar family and we are delighted to enter into a true partnership with the company’s founders as well as its talented team. TimeTac’s outstanding corporate culture, its product offering tailored towards the needs of its SME customer base and its focus on product-led growth – all of it is at the core of our investment philosophy. Together we will work to realise the company’s full potential and reach new heights“.
The transaction was advised by OC&C, Herbst Kinsky, Lupp + Partner, KPMG, wdp, Houlihan Lokey and Milbank. The shareholders of TimeTac were advised by Fieldfisher, PKF Corti & Partner and TimeTac’s advisory board member Christian Rosner. The acquisition was financed by Pictet Asset Management’s European Direct Lending strategy.