AURELIUS sells fidelis HR to Leading HR Services Provider SD Worx

14.03.2016

AURELIUS sells fidelis HR to Leading HR Services Provider SD Worx

  • Successful realignment since acquisition by AURELIUS
  • Strategic buyer SD Worx continues its European growth strategy through the acquisition
  • Significant, high double-digit disposal gains – distribution of a participation dividend

Munich, March 14, 2016 – The Munich-based AURELIUS Group (ISIN DE000A0JK2A8) sells its subsidiary fidelis HR GmbH to SD Worx, headquartered in Antwerp, Belgium. SD Worx is a leading provider of human resource services in Europe. The parties have agreed not to disclose the purchase price. With completion of the transaction AURELIUS will realize significant, high double-digit disposal gains in Q1 2016. AURELIUS intends to pay out part of these via a participation dividend.

fidelis HR offers a comprehensive range of services in the area Business Process Outsourcing (BPO) as well as own software solutions for human resource departments. The business is a leading provider within the attractive German speaking payroll market. Through the acquisition of fidelis HR, the Belgium based SD Worx Group will extend its business activities within the GSA market and continue its European growth strategy. AURELIUS acquired fidelis HR in 2013 from TDS Informationstechnologie AG, a subsidiary of Fujitsu Group. fidelis HR’s service portfolio covers the outsourcing of all processes associated with managing staff for medium and large organizations across all industries. In addition to wage and salary calculation, the service provider manages job applications, the calculation of travel expenses, and other personnel administration. Since acquisition by AURELIUS, the operations have undergone a comprehensive realignment. The product- and customer portfolio have been consequently improved. AURELIUS was able to optimize fidelis HR’s location structure of BPO centers and could realize significant cost savings. Furthermore the business was able to acquire numerous new customers with long term agreements. Furthermore, fidelis HR could expand its international activities also outside GSA.

In total, AURELIUS was able to improve turnover, profitability and headcount of fidelis HR significantly during the last three years. With 630 employees at 13 locations in Germany, Austria, and Switzerland, the business generated EUR 55.3 million in revenues and a double digit EBITDA-margin in 2015.

“Since acquisition, we were able to improve the costs structure of fidelis HR as a stand-alone company significantly. We extended the customer base and loyalty through the acquisition of new accounts during the last year. With SD Worx, fidelis HR found a strong new shareholder and international partner to support the business‘s future growth path“, comments Gert Purkert, member of the executive board of AURELIUS Group.

“This takeover entirely fits within our strategy to continue our international growth and so to strengthen our position in the market. SD Worx and fidelis HR are therefore strongly complementary. In addition, they have a similar corporate culture, a similar range of services and a good geographical spread in Germany”, says Steven Van Hoorebeke, CEO of the SD Worx Group.

Mummert & Company and Raymond James advised AURELIUS on this transaction.

Today, Monday, March 14, 2016 at 2.00 pm CET the Executive Board of AURELIUS will conduct a telephone conference for interested investors and members of the press. To sign-up, please send an email to investor@aureliusinvest.de.