HRLocker Acquired by ISH Group Expanding HR Software Portfolio
Deal News | Dec 12, 2024 | Invincible Software Holdings (ISH)
Invincible Software Holdings (ISH) Group has successfully acquired HRLocker, a leading B2B SaaS Human Resources Information Systems platform based in Ireland. This acquisition marks a strategic expansion for ISH into the HR software sector, now serving over 3,000 customers with a growing portfolio including companies like Jobtoolz and Homerun. HRLocker, founded in 2013, caters to more than 860 SMEs in Ireland and the UK, offering HRIS services such as employee records management, time tracking, and performance evaluations. The transition will see Adam Coleman, HRLocker's founder, exit, with COO Crystel Robbins Rynne stepping in as CEO to lead the next growth phase, emphasizing customer engagement and feature expansion. This move promises enhanced resources for HRLocker, facilitating faster innovation and a broader market reach, with potential integration opportunities among ISH's portfolio companies.
Sectors
- Software as a Service (SaaS)
- Human Resources Information Systems (HRIS)
- Private Equity
Geography
- Ireland – HRLocker is based in Ireland and serves many SMEs in the region.
- United Kingdom – HRLocker also serves SMEs in the UK market alongside its primary base in Ireland.
- Europe – ISH, along with Strada Partners who back them, operates with a strategic focus on the European market, including this acquisition.
Industry
- Software as a Service (SaaS) – Both ISH and HRLocker operate in the SaaS industry, providing online services software solutions to businesses.
- Human Resources Information Systems (HRIS) – HRLocker provides HRIS services such as time tracking and performance management, and this acquisition enhances ISH's position in the HRIS sector.
- Private Equity – ISH is a private equity firm focusing on acquiring and developing SaaS companies like HRLocker.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| HRLocker | Target Company | Company | An Ireland-based SaaS platform providing HR solutions to SMEs. |
| Invincible Software Holdings (ISH) | Bidding Company/Buyer | Company | A private equity group focused on acquiring SaaS companies. |
| Adam Coleman | Former CEO of HRLocker | Person | Founder of HRLocker, transitioning out post-acquisition. |
| Crystel Robbins Rynne | New CEO of HRLocker | Person | Former COO of HRLocker, leading the next phase as CEO. |
| Strada Partners | Supporting Investment Fund | Company | A European investment fund backing ISH, focusing on tech-driven companies. |