Together, the companies will deliver a best-of-breed integrated platform covering the entire employee lifecycle, while further accelerating international expansion across Europe.
The transaction marks the third strategic business combination supported by Main Capital Partners in recent weeks, further underscoring its strategy of building stronger software groups through the combination of complementary international software companies.
BCS is a Netherlands-based provider of HR and payroll software, serving SME, enterprise and public sector customers. The company offers a comprehensive suite of solutions, including payroll, talent management, employee development, applicant tracking, absence management, employee benefits and employee self-service solutions. Today, BCS serves more than 3,600 customers and has established a strong presence in the Benelux, supported by a growing international footprint across Northwestern Europe and a customer base that includes organizations such as Philips, Argenta, Schiphol Group, Ardo Foods, and Heineken. Main has been a strategic partner to BCS since 2022.
Timegrip is a Nordic provider of Workforce Management and HR cost control software, serving more than 1,100 customers across over 30 countries, with particularly strong positions in Denmark, Norway, and Germany. The company primarily serves SME, mid-market, and enterprise customers across a broad range of industries, including retail, manufacturing, healthcare, and hospitality. Timegrip’s solutions support workforce planning, time tracking, compliance and HR cost control, helping organizations manage complex workforce operations.
The combination of BCS and Timegrip creates a pan-European HCM and payroll software platform. By combining BCS’ core HR and payroll capabilities with Timegrip’s Workforce Management and HR cost control functionalities, the group creates a best-of-breed integrated platform covering the entire employee lifecycle. Together, BCS and Timegrip form an organization with more than EUR 60m in revenue and approximately 330 employees, headquartered in the Netherlands and serving customers across the Benelux, Nordics and DACH. The combination creates substantial cross- and upsell opportunities across the combined installed base, while also bringing together significant investments in AI-enabled product innovation across HR, payroll, workforce management and HR cost control. In addition, the combination provides a strong foundation for further international expansion and continued execution of a highly attractive buy-and-build strategy across Europe.
The combination of BCS and Timegrip represents a key milestone in the creation of a pan-European HCM and payroll software platform."
Joep Eijkens, CEO of BCS, stated: The combination with Timegrip marks an important step in our strategy to build a pan-European HCM and payroll software platform. Timegrip’s solutions are highly complementary to our existing product suite and further strengthen our ability to support customers throughout the entire employee lifecycle. Together, we are creating a broader and more integrated offering, while significantly expanding our presence across the Benelux, Nordics, and DACH.”
Rex Clausager, CEO of Timegrip, added: “We are excited to join forces with BCS and become part of a larger pan-European software platform. The strong strategic fit between both organizations, combined with our complementary product portfolios and geographic presence, creates a compelling foundation for future growth. We look forward to leveraging the combined platform to deliver even greater value to customers across Europe.”
Charly Zwemstra, CEO at Main and Chairman of the Supervisory Board of BCS, concluded: ”The combination of BCS and Timegrip represents a key milestone in the creation of a pan-European HCM and payroll software platform. Together, the companies bring highly complementary product capabilities, customer bases and geographic footprints across the Benelux, Nordics and DACH. We have long believed that strategic business combinations are one of the most effective ways to create stronger software groups and accelerate value creation. The combination of BCS and Timegrip is another strong example of this strategy in action and marks the third strategic business combination supported by Main in recent weeks. We look forward to supporting the management teams in the next phase of growth and international expansion.”
Founded in 1978, BCS HR Software is a provider of HR and payroll software solutions, supporting organizations across every stage of the employee journey with specialized solutions for recruitment, onboarding, HR, payroll, flexible benefits, document management, internal communication, and learning and development. These solutions are powerful on their own and work together within one integrated software suite. In addition to its software, BCS provides full in-house support, from implementation to day-to-day support. BCS currently employs more than 220 people and is headquartered in ‘s-Hertogenbosch, the Netherlands.
Timegrip is a provider of workforce management and HR cost control software that helps organizations optimize workforce planning, labor efficiency and operational performance. Its solutions support scheduling, time and attendance, absence management, compliance, labor cost control and strategic workforce planning. Timegrip serves more than 1,100 customers across more than 30 countries and employs approximately 105 people. The company is headquartered in Aalborg, Denmark.
Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.
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