Drake Star acts as Exclusive Financial Advisor to GFOS on the Majority Recapitalization with The Riverside Company

MUNICH | August 22, 2024 – GFOS mbH (“GFOS”), a leading provider of Workforce Management software, announced the majority recapitalization with an affiliated European fund (REF) of The Riverside Company, a leading global technology growth investor. Drake Star acted as the exclusive financial advisor to GFOS and its shareholders on this transaction.

Founded in 1988 by Katharina Van Meenen-Röhrig's father, Burkhard Röhrig, GFOS offers an enterprise-grade cloud platform that enables end-to-end digitalization of workforce management processes. More than 3,000 top-tier customers across 30 countries rely on GFOS solutions to digitalize their workforce processes and manage ever increasing complexity. GFOS’ modular platform is complemented by GFOS.Smart Manufacturing, the advanced manufacturing execution system, providing a fully integrated and holistic MES environment. GFOS' blue chip customer base includes Sennheiser electronic GmbH & Co. KG, Transgourmet Deutschland GmbH & Co. KG, MANN + HUMMEL International GmbH & Co. KG, Schwan Cosmetics Germany GmbH & Co. KG, ARI Armaturen Albert Richter GmbH & Co. KG, Arthrex GmbH, Feller AG, IMS Gear SE & Co. KG and NOWEDA Apothekergenossenschaft e.G.

Katharina Van Meenen-Röhrig, Co-CEO of GFOS, stated: "The investment of such a renowned and successful growth partner is a confirmation of our first-class company and product. Together with Riverside, we will leverage the enormous growth potential of our market even faster, both nationally and internationally. Ralf Hofmann and the entire Drake Star team did an exceptional job in navigating us through this dynamic, highly competitive and very successful process. With their deep understanding of the global HR Tech market and their extensive global reach and network, Drake Star was the perfect partner for us to enter the next phase of growth."

Dr. Ignace Van Meenen, Co-CEO of GFOS, added: "With their high level of commitment, outstanding execution skills and in-depth market knowledge, Drake Star was the perfect partner to help us win such a prestigious global growth investor. The Riverside team has extensive knowledge and strong experience in the enterprise SaaS market coupled with a very impressive HR Tech portfolio."

An affiliated European fund (REF) of The Riverside Company has agreed to acquire a majority stake in GFOS from the second-generation family shareholders, who will remain in their management positions and drive the growth strategy of the business in the next phase of its development. The Management Team will retain a significant shareholding, underlining their commitment to continue to support the growth and vision of GFOS.

Florian Halama, Principal at The Riverside Company: "We are very excited to partner with GFOS and its management team. The company has positioned itself as a leader in a highly attractive and dynamic market, based on high-quality software solutions and a strong enterprise customer base. We are very committed to continue to build on this foundation together with Katharina and Ignace to take GFOS to the next level."

Ralf Philipp Hofmann, Managing Partner and Co-Founder of Drake Star: "As a leader in Workforce Management, GFOS is leveraging its strong market reputation and long-standing experience to drive innovation and deliver cutting-edge solutions that improve productivity and efficiency throughout the organization. With its modern cloud-based time & attendance and scheduling solutions, GFOS is setting the standard for mid-market and enterprise customers across all industries. We are thrilled to have supported GFOS’ entrepreneurial leadership team in executing a highly successful process and identifying the ideal partner for the company’s next growth phase."

Drake Star Team: Ralf Philipp Hofmann, Pablo Lundershausen, Julian Wolf, Jan Ceko

Inquiries

For further inquiries, please contact:

Ralf Philipp Hofmann 

ralf.hofmann@drakestar.com
+49 173 393 0070

About GFOS

GFOS mbH is a leading provider of WFM software with a complementary offering in advanced MES. With over 35 years of experience, GFOS delivers innovative software solutions designed to enhance productivity and efficiency. Known for their modular solutions and seamless integration with existing IT infrastructure, GFOS helps businesses optimize operations and facilitate digital transformation. Their comprehensive solution is used by more than 3,000 customers and 3 million users in over 30 countries. Companies such as ARI Armaturen Albert Richter GmbH & Co. KG, Arthrex GmbH, Feller AG, IMS Gear SE & Co. KG, MANN + HUMMEL International GmbH & Co. KG, Transgourmet Deutschland GmbH & Co. KG, NOWEDA Apothekergenossenschaft e.G., Schwan Cosmetics Germany GmbH & Co. KG, Sennheiser electronic GmbH & Co. KG, and many more rely on GFOS solutions.

For more information, visit: www.gfos.com.

About The Riverside Company

The Riverside Company is a global investment firm focused on being one of the leading private equity and flexible capital options for business owners and portfolio company employees at the smaller end of the middle market by seeking to fuel transformative growth and create lasting value. Since its founding in 1988, Riverside has made more than 1,000 investments. The firm's international private equity and flexible capital portfolios include more than 140 companies.

Riverside Europe is an integral part of the Riverside’s broad global network and has been active in Europe since 1989. Riverside believes a truly global presence provides insight into local conditions, culture and business practices, making team members better business partners. 

For more information, visit: www.riversidecompany.com. 

About Drake Star 

Drake Star is an award-winning global tech investment bank that has completed over 500 transactions since 2003. The Drake Star global team of experienced professionals and senior advisors across offices in New York, Munich, London, Paris, Los Angeles, San Francisco, Berlin, and Dubai* focuses on mergers & acquisitions and corporate finance services worldwide in Software/SaaS, HR Tech, Digital Services, FinTech, Digital Media, Industrial Tech, Consumer & Retail Tech and Mobility & Sustainability.

Drake Star is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Razlin Ltd (FRN 730805), which is authorized and regulated by the FCA. © 2024 Drake Star Partners Limited.

The testimonials were given by clients. The testimonials are no guarantee of future performance or success. These are not paid testimonials, and no material conflicts of interest exist between the person(s) providing the testimonial(s) and Drake Star.

*Partner Office