Dutch Human Resource Management (HRM) and payroll software provider BCS HR Group (“BCS”), has acquired Apployed. This marks the first add-on acquisition since the investment of Main Capital Partners in April 2022. With the support of Main, BCS aims to further expand its position in the Human Capital Management market throughout the Benelux.
Apployed is a core HR software player, serving mostly SME clients with typically 20-500 employees. The company is headquartered in Berkel en Rodenrijs and employs approximately 28 FTE. The company offers two products: the highly standardized cloud-based solution Apployed and People Inc., a bespoke solution for larger organizations. Apployed’s products revolve around a scalable business model with complementary services such as advisory, secondment, training and implementation. Software solutions include HR, time management and payrolling. Apployed has a strong position within the healthcare, (semi-) governmental and financial services sector which expands the market focus of the entire group.
Apployed offers similar and complementary solutions to the product portfolio of BCS. By combining the solutions, customers are offered a broader product portfolio which can be supported by the different consultancy services of both companies.
Maarten Malmberg, CEO at Apployed, commented: “With this strategic acquisition we can start our next phase of growth. In our 25 years of existence we have built up a strong market position with our HR product lines People Inc. and Apployed. With the knowledge and experience of BCS, we can accelerate the further innovation of our products and serve our customers even better.”
BCS has 40 years of experience in providing core HR and payroll software solutions and services. The company has an extensive product offering which includes solutions for salary administration, employee benefits, hour registration, workflow management and personnel planning. The product suite was expanded after the acquisition of Polaris in 2019, enabling BCS to accelerate its SaaS business and offer integrated HR software solutions.
Joep Eijkens, CEO at BCS, added: “I am very excited that the acquisition of Apployed marks the start of the add-on strategy that we are working on together with Main Capital Partners. Apployed and BCS are two companies that at first sight are very similar in terms of organization and product. But there are also many areas where we do things differently and can therefore benefit from each other. I am looking forward to join forces and ensure that our customers will benefit from this great partnership!”
By joining forces, the group can service more clients with an extended product portfolio. The acquisition of Apployed marks the first step in the buy-and-build strategy of BCS. Within the HR and payroll market segment, there are many growth opportunities both organically and through buy-and-build. Although rather mature, the Human Capital Management market is a stable and growing market with several consolidation opportunities.
BCS, founded in 1978, provides modern HR and payroll solutions and services to the SME market in the Netherlands. Solutions include salary administration, workforce management, leave management and employee benefits. The company has nearly 115 employees who serve more than 2,300 customers from its office in Den Bosch.
Apployed, founded in 1997, offers solutions in the field of human capital management (HCM) such as workforce management and payroll software. The solutions are offered in combination with services such as advisory, secondment, trainings and implementation. The company employs approximately 28 FTE and is located in Berkel en Rodenrijs.
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 management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 55 employees and has offices in The Hague, Stockholm, Düsseldorf 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 130 software companies to date. These companies have created jobs for approximately 8,000 employees.
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