Carlsquare advises PersonalMarkt on the sale of a majority stake to Axel Springer's StepStone
The online job platform StepStone has acquired a majority stake in PersonalMarkt, one of Germany’s biggest compensation analysts. PMSG PersonalMarkt Services GmbH operates websites for both employees and employers: Gehalt.de and Gehaltsvergleich.com provide detailed information on salaries and publish vacancies. With Compensation Partner, PersonalMarkt helps employers in all sectors to check compensation structures against current market standards. More than 1,000 customers have already used the services of the Hamburg-based company.
“For a number of years, PersonalMarkt has been a reliable business partner to employers in all salary-related matters,” says StepStone managing director Dr Sebastian Dettmers. “Together with PersonalMarkt, StepStone will position itself more strongly and broadly as an expert and provider of information relating to HR and careers.”
PersonalMarkt was founded in Hamburg in 1999 by Tim Böger and Dr Philip Bierbach. The aim was to exploit the potential of the Internet to offer professional services in the area of salaries, with the initial focus on ascertaining the market rate of employees’ salaries. Just one year later, PersonalMarkt published the first salary database on the Internet for comparing individual and professional salaries. PersonalMarkt quickly evolved to become a company enjoying strong growth and now employs more than 60 people.
“As part of StepStone, we will now take the next step and continue to work hard to grow the business in the coming years,” says Dr Philip Bierbach, who will retain a stake in PersonalMarkt as founder and managing director.
Carlsquare acted as exclusive financial advisor to PersonalMarkt.