SD Worx advised by NIBC on German acquisitionCorporate 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.
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 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.
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.