SD Worx advised by NIBC on German acquisition

Corporate News -

International human resources services provider SD Worx acquired its German peer fidelis HR to create the second-largest payroll provider in Germany. NIBC advised SD Worx on this strategic acquisition, which supports the client’s growth strategy.

The client

SD Worx delivers payroll, HR, tax and legal services. It calculates around 2.35 million salaries each month and has more than 60,000 clients worldwide. SD Worx is also co-founder of the Payroll Services Alliance whose members jointly handle 31 million salary calculations.

The case

The takeover of fidelis HR, which provides HR services to around 6,000 clients in Germany, Austria and Switzerland, strengthens the position of SD Worx in the German market. Following the acquisition, SD Worx is well positioned to exploit Germany’s growth potential.

The solution

To successfully advise SD Worx, NIBC tapped into the sector knowledge of its technology, media, telecoms & services team, as well as the execution capabilities of the mergers and acquisitions team.

Through the acquisition, SD Worx has gained several large German and international clients and considerably increased its share in the public sector, where fidelis HR makes 45% of its sales. The two businesses complement each other, sharing a similar corporate culture and offering comparable services. The unified group also has a good geographical spread across Germany.

Welcome to

We, NIBC Bank N.V., use functional cookies to ensure that this website works properly. We’d also like to place optional analytical cookies on your device which enable us to collect information about the use of this website, so that we can offer you an optimised website experience. You can choose not to provide your consent for the use of analytical cookies. If you do consent, you can withdraw your consent at any time. You can find more information in our Cookie Policy and our Privacy Statement.

Call me back
Please fill out your name Onderwerp is verplicht Please fill out your telephone number