STP: German market leader in legal software for insolvency administrators and general law firms
"We are delighted to be partnering with Gunther Thies and his management team. STP is a high-quality business that offers attractive growth prospects and is strongly valued by its customers. HgCapital has a strong track record of investing in business-critical software and we look forward to supporting the continued development of STP into a European legal software champion."
Arno Poschik, Director of HgCapital in Munich
Subscription-based software for law firms and courts
Founded in 1993, STP employs c. 160 people serving a diversified customer base of customers from both insolvency and commercial law sectors in Germany and central Europe.
The company develops, implements and maintains a proprietary software solutions for insolvency proceedings as well as legal practice business and document management software, sold to large law firms with complex application needs served by high budgets.
Since its inception, STP has demonstrated a strong track record of growing revenues every year from its mainly subscription business model and shows very low churn, supported by sustained product development, customer service and innovation efforts.
HgCapital to support STP’s future developments
HgCapital invested in STP in May 2016, together with the company’s current CEO and co-founder Gunther Thies who retains a significant interest in the business and will continue as CEO.
HgCapital is a leading European private equity investment firm focusing on technology and software buyouts targeting niche champions. It has offices in London and Munich and manages more than GBP 5bn of assets.
Going forward, HgCapital will leverage its deep understand of STP’s products and markets to support internationalization and inorganic growth strategy of the latter.
Stella EOC acted as exclusive advisor to STP and its shareholders.