Stockholm, 15th of February 2024 – TimePlan Group (‘TimePlan’), a Danish company backed by Main Capital Partners (‘Main’), is on route towards becoming a leading European Workforce Management provider. The acquisition of TimeMap marks the second step in TimePlan’s buy-and-build strategy since the start of the partnership with Main Capital in November 2022.
TimeMap is a Danish software company founded in 2006 that offers a cloud-based SaaS workforce management (‘WFM’) solution across a wide range of verticals such as production, manufacturing and professional services. With more than 50.000 daily users spread across 500 companies in 19 different countries, TimeMap is one of Denmark’s leading time-tracking systems.
TimeMap marks the second add-on acquisition for TimePlan following a strategic combination with Norwegian TimeGrip in March 2023. The acquisition of TimeMap will allow TimePlan to expand into new verticals while further solidifying TimePlan’s leading position in the Danish WFM market. The combined group will serve more than 1.000 customers throughout Europe with a strong foothold in the Nordics, a region with some of the world’s most complex labour legislation.
Thomas Dunk, Founder & CEO of TimeMap, comments: “I am happy to announce that TimeMap is joining forces with TimePlan, and excited about the opportunities that this partnership represents for our employees and customers going forward. Together, we are well equipped to support our customers in complying with the recent ruling from the European Court on the New Time Registration Act”.
Rex Clausager, CEO of TimePlan, says: “We are thrilled about joining forces with TimeMap. Their extensive WFM experience from adjacent industries will further expand our knowledge base of supporting customers in complying with complex international labour legislation and collective agreements. With the support of Main Capital, we are now one step closer to reaching our goal of becoming the leading one-stop shop for WFM solutions across Northwestern Europe.”
Wessel Ploegmakers, Partner at Main Capital Partners, concludes: “We see a strong product-market fit between the two companies, whereby the combination both increases TimePlan’s position in the Danish WFM market and improves positioning in new verticals, allowing for a broader market penetration. This acquisition verifies TimePlan’s commitment to become the leading player in the WFM market, and we are excited to see what the future will bring.”
About TimeMap
https://www.timemap.dk/
TimeMap is a Danish workforce management software company founded in 2006 by Thomas Dunk. With more than 15 years of experience and +50.000 daily users across 19 different countries, TimeMap is one of Denmark’s leading time registration systems. The organization consists of 9 employees located in Nivå, Denmark.
About TimePlan Group
https://timeplan-software.com/
TimePlan is a leading Workforce Management software vendor consisting of 67 employees with offices in Aalborg, Denmark, Oslo, Norway and Helsinki, Finland. Founded in 1995, TimePlan has, over decades, acquired an unmatched industry experience, serving a blue-chip customer base with operations across Europe.
About Main Capital Partners
https://main.nl/
Main Capital Partners is a leading software investor in the DACH, Benelux, the Nordics, and the United States. Main has 20 years of experience in strengthening software companies and works closely with the management teams in its portfolio as a strategic partner to achieve sustainable growth and larger outstanding software groups. As a leading software investor managing private equity funds active in Northwestern Europe and North America, Main has 70 employees operating out of its offices in The Hague, Düsseldorf, Stockholm, Antwerp, and an affiliated office in Boston. Main has over EUR 2.2 billion assets under management and maintains an active portfolio of over 45 software groups. The underlying portfolio employs over 12,000 employees.
