Main Capital Partners is proud to announce the acquisition of a majority stake in TimePlan Software A/S, a leading provider of Workforce Management solutions. Together with the management, Main will support TimePlan in its continued international growth and a selective buy & build strategy.
Founded in 1995 in Aalborg, TimePlan is an innovative Danish software vendor of Workforce Management (“WFM”) solutions with 45 employees. With more than 25 years of experience in the WFM industry, the company’s platform has grown into a leading solution within employee scheduling, time & attendance and HR administration, allowing its international client base to comply with a wide variety of complex labor legislations pertaining to collective agreements, on a daily basis.
Denmark’s labor market is characterized by a long history and a wide variety of union agreements protecting the rights of employees. This has given TimePlan the ideal foundation to be able to effectively manage some of the most complex employment rules and laws around the world. Furthermore, the solution is modular by design to ensure compliance across a wide array of industries. Therefore, the business is well-positioned to pursue various opportunities across Northwestern Europe.
TimePlan currently serves more than 240 clients and is used in 26 countries throughout Europe. The client base includes customer as among others, JYSK, Salling Group, Merlin Entertainment Group, IKEA and Bauhaus with operations throughout Europe.
Looking ahead, Main Capital Partners will actively support TimePlan in maintaining the strong growth momentum by further expanding into adjacent customer segments and broadening the offering to its customers. In addition to organic growth initiatives, strategic add-on acquisitions will be an important pillar of the growth strategy to complement the innovative product portfolio as well as to strengthen the market position.
Wessel Ploegmakers, Partner at Main Capital Partners, comments:
“Increasing complexity of labour regulations, evolving and the need to accurately forecast and plan the workforce is an ongoing struggle for many large companies. We see that TimePlan has built a powerful yet flexible solution to support leading industry players in their respective segments. We look forward to the opportunity to collaborate with the management team of TimePlan to build out this leading position in Europe by expanding and developing the product offering both organically and by acquisitions.”
Henrik Baasch, Founder of TimePlan, comments:
“It has been a fantastic journey to turn a workforce-related idea into a solid company over the last two decades where customer-driven development has been paramount. However, a company must constantly ensure that the management and ownership structure fit the opportunities and tasks that lay ahead. As such, I am very pleased to have brought in Main Capital Partners as the new majority shareholder. I will continue with a significant ownership interest and will therefore follow the future development very closely. A big thank you to the many customers I have had incredibly close contact with over the years and the loyal and skilled employees who are the foundation of TimePlan. It has been an exciting journey thus far – but it will be at least as exciting a future.”
Rex A. Clausager, CEO of TimePlan, comments:
“When choosing a partner, it was important to maintain the company’s strong DNA with close ties to our customers and skilled and competent employees. After all, customers and employees together are the reason, TimePlan is a successful company. We are therefore excited to continue our innovative journey for TimePlan together with Main Capital Partners as active owners. We firmly believe Main is the right partner for us, focusing exclusively on business-critical software for almost 20 years, they will contribute with knowledge and network to our continued growth towards continuously delivering a Workforce Management tool that provides value to our customers”
TimePlan is a leading verticalized Workforce Management software vendor consisting of 45 employees primarily based at the headquarter in Aalborg, Denmark. Founded in 1995 by Henrik Baasch, TimePlan has over decades acquired unmatched industry experience, serving a blue-chip customer base with operations across Europe.
Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with the management teams of its portfolio companies as a strategic partner, in order to realize sustainable growth and build excellent software groups. Main counts 60 employees and has offices in The Hague, Stockholm, Düsseldorf, Antwerp and the USA (Boston). As of October 2021, Main has over EUR 2.2 billion of assets under management. Main has invested in more than 150 software companies to date. These companies have created jobs for approximately 9000 employees.