HR WORKS, a portfolio company of Maguar Capital, enhances its HR suite by acquiring Vispato, a leading German whistleblowing software solution

Munich, Germany – Maguar Capital, the German software investor with focus on the DACH region, is pleased to announce that its portfolio company HR WORKS has successfully acquired Vispato, a leading provider of whistleblowing software solutions.

Vispato is a Germany-based technology company with strong growth momentum. As a specialist in digital whistleblowing systems, Vispato provides companies with a legally compliant and user-friendly solution for implementing the EU Whistleblower Directive. Vispato’s solution relies on one of the most secure end-to-end encryption technologies and well-designed security concepts to ensure data protection and confidentiality. Through this acquisition, HR WORKS expands its offering in the rapidly growing market for compliance solutions as part of its integrated HR suite.

HR WORKS continues to strengthen its position as a leading HR software provider for small and medium-sized enterprises (SMEs) in the DACH region. With the acquisition of Vispato, HR WORKS is further pursuing its successful growth strategy. The company had previously acquired DriversCheck GmbH (Cologne) in autumn 2022 and Bonrepublic GmbH (Vienna) in spring 2024.

Markus Schunk, Partner at Maguar Capital says:
“The acquisition of Vispato by HR WORKS marks another important milestone in the execution of HR WORKS’ growth strategy. Building on strong organic growth and targeted acquisitions, this represents a strategically significant step that further strengthens the all-in-one solution in the area of compliance and expands its position as a leading quality
provider in the market.”

Christoph Bischoff, CEO of HR WORKS, adds:
“We are very pleased to welcome Vispato to the HR WORKS Group. Their innovative solution in the field of secure, digital whistleblowing systems is a perfect addition to our offering. Like HR WORKS, Vispato stands out with deep expertise, making them an ideal fit for us. Our customers value HR WORKS as a user-friendly and secure all-in-one HR solution — and the integration of Vispato will enhance it even further.”

With its all-in-one solution, HR WORKS covers the full employee life cycle for SMEs – tailored and future-ready. In practice, this means the HR suite supports every stage: from recruiting and onboarding to HR administration (including time tracking, payroll preparation, travel expense management, HR compliance), all the way to employee development, retention, offboarding, and potential re-hiring.

The transaction was advised by Lupp + Partner, KPMG, Valantic, and Radial. The shareholders of Vispato were advised by LUTZ | ABEL Rechtsanwalts PartG mbB.

About HR WORKS
With approximately 3,000 customers, HR WORKS is one of Germany’s most successful software providers for Human Resources (HR). For 25 years, the company has offered a cloud-based solution that combines all essential HR management functions with digital travel expense reporting – simple, smart, and tailored to the needs of SMEs. Among all HR software providers, HR WORKS boasts the highest customer loyalty in the German Mittelstand.
The HR WORKS Group comprises HR WORKS, DriversCheck (Cologne), Bonrepublic (Vienna), and Vispato (Düsseldorf), employing a total of around 210 people.
Visit the HR WORKS press page for more information.

About Maguar Capital
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.

For more information, please contact:

Arno Poschik
Maguar Capital – Founding Partner
Mail: ap@maguar.com
Homepage: www.maguar.com