TimePlan, a Danish company backed by Main Capital Partners, is on a growth journey towards becoming a leading European Workforce Management provider. The company has seen strong growth in recent years and has demonstrated a successful track record in leveraging technology to drive operational efficiency, productivity and customer satisfaction. The acquisition of Timegrip is a first step in TimePlan’s buy-and-build strategy since the start of the partnership with Main Capital in November 2022.
Founded in 2006 in Oslo, Timegrip is a Nordic software provider of flexible workforce management (‘WFM’) solutions with 20 employees. Timegrip helps more than 11.000 department managers across the Nordics to gain insight, control and transparency over staffing plans. This in turn allows them to create more efficient and harmonious interactions between employees. Timegrip currently serves more than 150 clients and is used in +10 countries throughout Europe. The client base consists of companies such as Circle K Europe, XXL, GinaTricot, Sport1, Europris and GrandVision Group with operations throughout Europe, such as VisionExpress and Synoptik.
TimePlan Group, a leading WFM software provider in the Nordics
Timegrip marks the first acquisition by TimePlan. The combination will enable the TimePlan Group to expand geographically and technically, improving its value proposition to clients in the WFM market in the long run. With more than 400 customers served through local offices in Denmark, Norway, and Finland, the combined group will be well-positioned to become a leading Nordics WFM provider. The newly formed group will be able to leverage the strengths and extend their current product offering towards a one-stop-shop for workforce management, designed to support enterprise as well as small to medium businesses in their growth trajectory.
Sigmund Lange, Co-Founder & CEO of Timegrip, comments: “We are very pleased that we can continue to develop our business with strong players like TimePlan and Main Capital backing us. It is important both for our own development and for our customers to be part of a group with technological and financial muscles. Our offering complements TimePlan’s portfolio very well, both in terms of products, services and expertise. Together I am sure we will create value for both existing and new customers.”
Rex A. Clausager, CEO of TimePlan, adds: “It is with profound excitement that we welcome Timegrip to our family. Our shared beliefs and goals make this a very synergistic partnership: we have common knowledge of the same industries, a solid home market footprint and a strong European reach, and we are confident that joining forces will enable us to better meet customers’ needs both today and tomorrow. Together, we can reach new heights, leveraging our strengths to create an even more successful future and offer better services to our customers across different countries and industries. It is also extremely important to us that the current founders and owners of Timegrip continue to work at the organization and be co-owners. I am looking forward to our meaningful and ambitious collaboration.”
Wessel Ploegmakers, Partner at Main Capital Partners, concludes: “The combination will strengthen the group’s position within the Nordic WFM market whilst improving its international growth prospects and simultaneously maintaining a local touch in our core markets. Moreover, this move demonstrates TimePlan’s commitment to further strengthen its ability to provide customers with modern solutions in a profitable manner by being a leading player in the market. I am eager to follow the development of the group as they continue their expansion across Northwestern Europe.”
TimePlan is a leading verticalized Workforce Management software vendor consisting of 45 employees primarily based at the headquarters 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.
Timegrip is an international Workforce Management software company founded in 2006 by its three founders all still operationally active in the company. The organization has 20 employees and serves customers across 12 markets from its office in Oslo. The company delivers a flexible platform able to support large retail clients in multiple markets as well as local small to medium businesses.
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 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.
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