CornerstoneCapital is pleased to announce the successful exit of our investment in Infoniqa Group (Thalheim bei Wels / Austria). In Elvaston, Infoniqa has found a new majority shareholder, who has extensive market knowledge and will accompany the company in the future and help to further consolidate this fragmented market segment.
In 2012, CornerstoneCapital as the majority shareholder and the managers Siegfried Milly and Alexander Zrost acquired Infoniqa Payroll GmbH together with its subsidiaries. Infoniqa is a leading HR software vendor and services provider in Austria and Germany. More than 2.800 customers with in excess of 1.5 million employees in Germany, Austria and Switzerland trust the Company’s expertise in payroll accounting, personnel software and time recording. Infoniqa is ranked among the top 3 players in its segment in Austria and is one of the fastest growing HR software companies in Germany.
Since the MBO in 2012, Infoniqa’s excellent management tripled revenues, profits as well as the number of employees. In addition to the strong organic growth, CornerstoneCapital supported four highly accretive add-on acquisitions which all have been significantly contributing to the positive development of Infoniqa.
Currently, CornerstoneCapital invests out of its third fund with a total equity volume of € 100 million. We primarily invest in companies with outstanding technological expertise, strategic value creation opportunities and strong management teams. Our portfolio companies typically generate revenues between € 20 and € 40 million with double digit margins.