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DWF advises NorthEdge on investment into HR software specialists Cezanne HR

27 March 2023

DWF, the global provider of integrated legal and business services, has advised lower mid-market private equity firm, NorthEdge on the completion of a primary MBO into Cezanne HR, provider of cloud-based human capital management software and payroll services.

DWF's UK Corporate team provided legal advice to Manchester-based NorthEdge Capital LLP who will now support co-founder and CEO Alberto Gabbai, John Hixon, Chief Operating Officer and their team with private equity support to implement a new growth plan for Cezanne HR (Cezanne). 

Founded in 2013, Cezanne provides inclusive employee lifecycle management solutions to mid-sized businesses in over 120 countries worldwide. In addition to streamlining HR processes, they aim to improve employee engagement, reduce data administration, and provide better HR insight with their software offerings.

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

Technology has become a core focus for NorthEdge as the deal represents the private equity firm's eleventh investment into the technology sector in the last five years. The investment will aim to build on Cezanne's reputation for product quality and customer-centric approach, continuing product development, and investing in its people, customer acquisition and retention.

Private equity partner, Jonathan Robinson led the Corporate team at DWF, who advised NorthEdge on the investment into Cezanne, alongside corporate partners Darren Ormsby, James Cashman and Paul Brown, senior associate James Collinson and associate Eleanor Chatterton.  

Commenting on their involvement in the deal, Jonathan Robinson said: "NorthEdge have built an excellent reputation within the technology sector over the last five years so it was exciting for us to work with them on their most recent investment in Cezanne. I look forward to watching the business continue to grow and excel with this new partnership."

Alberto Gabbai, CEO of Cezanne said: “The partnership with NorthEdge marks the beginning of an exciting new chapter for Cezanne HR. NorthEdge’s support will give us more strength, financially and otherwise, to accelerate our growth towards becoming the leading provider of cloud-based leading-edge HR and payroll solutions to the UK market."

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

He added: “Cezanne 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.”

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