London, United Kingdom, March 23th 2023: Cezanne HR is delighted to announce lower mid-market private equity firm, NorthEdge, has completed a primary MBO into Cezanne HR. Their backing allows Cezanne HR to accelerate their ambitious growth plans, and further invest in their product, people and customer services.

Commenting on the investment, Alberto Gabbai, CEO of Cezanne HR said: “I’m really excited about the investment from NorthEdge and the timing is perfect. In the last few years, we’ve seen a significant increase in demand for modern HR solutions that have the sophistication and reach of enterprise-level HR systems but without their high costs or complexity. Cezanne HR’s integrated global HR suite and payroll services are ideally positioned to meet that demand.”

“NorthEdge’s support will give us more strength, financially and otherwise, to accelerate our growth in this space and become the leading provider of comprehensive but easy-to-manage cloud-based HR and payroll solutions to the UK market.

“The backing from NorthEdge means we can broaden our value proposition to all customers by evolving and widening our software and our services and, by continuing to invest in our people we can maintain our best-in-class and highly effective customer service approach – supporting our goal to deliver the highest level of customer satisfaction and success.”

The investment was funded from NorthEdge’s SME Fund I, and was led by Jon Pickering, Partner and Chief Investment Officer, Dan Matkin, Director and Simone Masterson, Investment Manager. The deal will see Dan Matkin join the board on behalf of NorthEdge, alongside Ian Kelly who joins as Non-Executive Chair.

Dan Matkin, Director at NorthEdge said: “We’ve been hugely impressed by the team at Cezanne HR throughout the process, thanks to their experience, passion and relentless focus on building a software business of high quality and longevity. Cezanne HR has grown consistently since its inception and has a great reputation in the market, we look forward to playing a part in its continued success.

“Technology continues to be a core focus for NorthEdge, with this investment representing our eleventh investment in the sector in the last five years. Cezanne HR is another high-quality SaaS business in the exciting and evolving HCM market, so we are delighted to be partnering with Alberto, John and the rest of the team.”

NorthEdge logo

NorthEdge was advised by PWC (corporate finance), DWF (legal), Graph Strategy and Megabuyte (commercial due diligence), BDO (financial and tax due diligence), Crosslake (technology due diligence) and KPMG (tax structuring).

Cezanne HR was advised by EM Law.

About NorthEdge

NorthEdge is a private equity firm headquartered in the North, owned and built by its senior team, supported by a global blue chip investor base. They have £900m AUM across four regionally focused funds.

Headquartered in Manchester, with offices in Leeds and Birmingham, the NorthEdge team have a 25-year track record of investing in businesses with ambitious management teams and significant growth potential. Its current portfolio of 26 businesses employs over 7,400 people.

NorthEdge look to invest in like-minded businesses and management teams who have real ambition and the potential to shape global markets. They back management teams, in the Technology, Healthcare, Business Services and Specialised Industrials sectors, who recognise the value of having an experienced business partner alongside them, supporting them to build a better business.

About Cezanne HR

Headquartered in London, with an office in Glasgow, Cezanne HR is leading the way in delivering smart, sophisticated and cost-effective Cloud HR software to mid-sized businesses worldwide. Quick to deploy, easy to manage and flexible, Cezanne HR’s comprehensive HR suite simplifies and streamlines human resources management, saving time and helping organisations better engage, manage and motivate their workforce, wherever they are.

With customers in virtually every business sector, Cezanne HR’s modern HR system covers the complete employee lifecycle, from recruitment and onboarding through core HR administration to pulse surveys and performance and succession management. Cezanne HR also offers managed payroll services to UK companies.