Apax Partners’ Fund Acquires 52.1% Stake In GreytHR

A private equity fund managed by the global PE firm Apax Partners named Apax Digital Fund II  acquired a 52.1 per cent stake in greytHR, a  HRMS provider, through an undisclosed strategic investment. 

The proceeds will allow greytHR to expand its product portfolio with additional strategic HR modules for recruitment and talent management, as per media reports. 

Commenting on the development, Mark Beith, Partner and Shashwat Shukla, Vice President at Apax Digital, who will join greytHR’s board of directors as part of the transaction, said, “greytHR enables businesses to save time and money by moving from complex and error-prone manual work to an automated and accurate next-gen solution with a mobile-first interface that delights employees," reported media.

Subject to customary closing circumstances, the transaction, which includes primary investment and secondary purchases from current investors and the promoters of greytHR, is anticipated to close in Q3 2024.