The purchase of Endalia by the Accel-KKR fund “will accelerate the growth” of the Aragonese firm

Endalia, a Zaragoza company specialized in the provision of human capital and payroll management software services, begins a new stage after being acquired by the private equity fund Accel-KKR, created by Accel, Silicon Valley’s leading venture capitalist and investor in companies such as Facebook, Spotify and Dropbox. The operation, announced a few days ago, “will accelerate the growth” of the Aragonese firm, as Fernando Cortés, its general director, pointed out to this newspaper yesterday, who valued the expansion possibilities that are now open to promote the technological development of the company with a leading expert in the sector and also inorganically with new acquisitions in Spain.

Endalia was created in Zaragoza by Cortés himself and José Luis Guillén in 2007 in a place in Plaza Roma with three or four workers and Its sustained growth over time has allowed it to reach a hundred people on its workforce and the 7 million euros of turnover it currently has. For about five years its headquarters have been in one of the buildings of the World Trade Center of the Aragonese capital.

The SME from Zaragoza has become strong in providing HCM (Human Capital Management) solutions that include organizational management, training, selection, performance, professional development, compensation and benefits, vacations and absences, registration working hours, travel and expenses, work flow management and internal communication. This specialization allows us to think that Endalia’s project now becomes, with the impulse of Accel-KKR, a “scalable” project, considers Fernando Cortés, who will continue in the company as its chief executive officer and as a minority shareholder. “I will continue to be the CEO and the management team remains, which will continue to work autonomously,” he said.

Endalia has clients in a wide variety of sectors of activity ranging from financial (Caixa Bank), aeronautical (Airbus) or naval (Navantia), to technology, industrial or the public sector.

“Spain is a highly complex market for payroll service providers with complex regulations and different regulations in the different regions of the country,” said Tom Barnds, co-managing partner of Accel-KKR, in a press release. For his part, Phil Cunningham, Operations executive and head of AKKR’s Emerging Buyout Partners fund, said: “We are excited to partner with Endalia to continue investing in providing a first-rate human resources SaaS solution, to accelerate growth and to bring continuous innovation in the field of human resources in Spain for many years ”.

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