06.09.2016
Harris Williams & Co. Ltd., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the sale of Workplace Systems (Workplace) to WorkForce Software (WorkForce), a portfolio company of Insight Venture Partners (Insight). Workplace is a leading workforce management (WFM) software-as-a-service (SaaS) provider. Harris Williams & Co. served as the exclusive advisor to Workplace, a portfolio company of leading UK mid-market private equity firm LDC. The transaction was completed by Harris Williams & Co.’s Technology, Media & Telecom (TMT) Group, led by Thierry Monjauze, Jonathan Organ and Mathew Tsui of the firm’s London office, and Jeff Bistrong of the firm’s Boston office.
“Workplace has developed a truly unique employee-centric WFM solution,” said Thierry Monjauze, a managing director at Harris Williams & Co. “Insight will combine Workplace with its portfolio company WorkForce. The combination will be highly strategic and, along with Insight’s software expertise, will add significant growth momentum to both parties. We look forward to watching the continued growth and development of the company as it enters into this new phase.”
Workplace offers the world’s first employee-focused forecasting and scheduling tool optimized for employers of hourly-paid workers in complex, consumer-facing environments. The company’s highly scalable SaaS solution provides headquarters with business visibility, manager empowerment to shape schedules to local conditions and drives employee engagement. Workplace’s solution delivers employee work-life balance and satisfaction levels, improving customer service and driving in-store conversion. With offices in London, Chicago and Sydney, Workplace schedules over 400,000 workers every day in over 65 countries for over 300 customers. Workplace’s loyal customer base includes some of the largest global retailers and respected luxury brands.
LDC, the private equity arm of Lloyds Banking Group, backs ambitious management teams from UK-based companies seeking up to £100 million of equity for management buyouts, institutional buyouts or development capital transactions. It invests in a broad range of sectors with particular experience in Construction and Property, Financial Services, Healthcare, Industrials, Retail and Consumer, TMT, Travel and Leisure and Support Services. The firm has committed to invest £1.2 billion in UK mid-market businesses over the next three years.
As the leader in cloud-based workforce management, WorkForce is ‘Making Work Easy’ for employers around the globe. WorkForce’s tailored solutions empower enterprise and mid-sized organizations to fully automate time, labor and workforce scheduling processes, simplify absence management and enable strategic business insight. With seamless integration and real-time visibility, WorkForce helps organizations tackle their most complex policies and compliance concerns, so they can reduce costs, maximize efficiencies and improve employee satisfaction.
Insight is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Their mission is to find, fund and work successfully with visionary executives, providing them with practical, hands-on growth expertise to foster long-term success.
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