(PEHub) LG lugar de gente, a portfolio company of H.I.G. Capital, has acquired W3net. Financial terms weren’t announced. W3net, of Minas Gerais, Brazil, provides SaaS human resources management software.
H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with more than $17 billion of equity capital under management, is pleased to announce that its portfolio company LG lugar de gente (“LG”), a leading human resources software provider in Brazil, has acquired W3net (“W3”), a leading provider of SaaS Human Capital Management Systems (“SaaS HCMS”).
Following the acquisition, LG will be the only HR focused company in Brazil with a full HCMS footprint including HR core and strategic functions, workforce management, compensation and rewards, recruiting and hiring, talent management and learning tools. As both companies share the same market focus, they will be able to cross-sell their products and explore their combined client base. Furthermore, W3’s experience with SaaS will add important R&D capabilities to LG’s next generation products.
Ricardo and Cibele Vasconcelos, co-founders of W3, will serve as technology and commercial directors and will lead the company’s growth and integration efforts.
The founder and CEO of LG, Gustavo Teixeira, welcomed the W3 team and noted, “The two companies have worked together in the past and we share the same values and vision. The synergies and the benefits of this merger are obvious to all of us.”
Fernando Marques Oliveira, Head of H.I.G. Brasil and H.I.G. Latin America, commented, “With best-in-class HCMS technology, this acquisition consolidates LG as the leading HR software company in Brazil. W3 has the most complementary offering to LG’s application suite, and has a high commitment to product quality and client service. We are confident the two companies will benefit greatly from working together.”