Hogan Lovells advises investors on sale of HRworks to newly established continuation fund Maguar CF I

Press releases | 21 June 2023

London, 21 June 2023 – Global law firm Hogan Lovells has advised investors abrdn, Golding Capital, Hayfin and Lombard Odier Investment Managers on their backing of a transaction which saw Maguar Capital, a leading B2B software investor in the DACH region, sell portfolio company HRworks Holding GmbH to a newly established continuation fund, Maguar Continuation Fund I GmbH & Co. KG (“Maguar CF I”).

The transaction, with total equity funding of more than €235 million, was also backed by other globally active institutional investors, as well as successor fund Maguar Capital II GmbH & Co. KG and the HRworks management team.

The Hogan Lovells team was led by Global Head of the Private Equity practice Ed Harris with support from secondaries senior associate Charlotte Monk, private equity associates Gilbert Hwani and Olivia Wallwork, funds partner Jeremy Pickles, funds associates Alice O’Neill and Iulia Davidescu (all London based), private equity partner Volker Geyrhalter, private equity counsel Cornelius Naumann (Germany), tax counsel Natalie Psaila, tax senior associate Natasha Newey and tax associate James Hotchkiss (London).

Maguar was advised by Asante Capital, Clifford Chance, Dechert and Lupp + Partner.