Company foresees strong growth in the coming years, consolidating its position as the largest HR Tech in Brazil
Credit: LG Lugar de Gente website
LG Lugar de Gente, the main Brazilian player in technology solutions for Human Capital management, announces a new investment by HIG Capital (shareholder of the company since 2013) and the arrival of HIX Capital, one of the most respected assets in the market and which has been growing rapidly in illiquid asset management.
LG's history with HIG begins almost 10 years ago, when the fund made a minority investment to support the company's growth. Today, one of the most respected Private Equity funds in the Middle Market segment globally and managing more than US＄ 55 billion in capital under management, in 2022, HIG decides to acquire control of LG Lugar de Gente in order to support the company's new phase and further accelerate LG's organic and inorganic growth. According to Rodrigo Feitosa, partner and director of HIG, “We've always had a deep respect and admiration for the products and quality of the people behind LG. Despite having already invested a reasonable amount of time, we decided to invest even more in the future growth of the company and in the consolidation of LG as one of the undisputed leaders in the management of technology solutions for HR”.
HIX Capital, building on its successful track record in investing in public companies, has recently assembled a team dedicated to making illiquid investments and has completed 4 transactions to date. “HIX saw the potential for LG Lugar de Gente to consolidate itself as a major player in the software sector in the human capital management vertical in Brazil, like a Workday abroad. The company has a history of consistent growth, a portfolio of some of the largest companies in Brazil and a high level of customer satisfaction. Combined with a mature management team and the ability to grow across multiple adjacent products, LG People's Place is exactly the type of industry leader we're looking to invest in. We are delighted to be able to support her on this journey.”, said Marcelo Cecchetto, partner at HIX Capital responsible for the private investment strategy.
These investments will allow LG Lugar de Gente, the largest HR techs in the country, to carry out its strategic plan to triple in size over the next 5 years. “Our goal is quite ambitious and, for that, we remain focused on offering a complete portfolio of products for human capital management, based on the newest technologies available. We are the only company on the market to meet all possible people management demands, from hiring to offboarding, whether on the transactional or strategic side of HR, with a 100% cloud solution”, highlights Felipe Azevedo, CEO of LG Lugar de Gente.
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