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Carlyle sells Personal & Informatik30/08/2007. Source: AltAssets. 
 The Carlyle Group has sold its majority shareholding in Wiesbaden, Germany-based human resources software and services provider Personal & Informatik for an undisclosed amount. Carlyle's indirectly held shares, totalling 66.64 per cent of the company, were sold to 35 institutional investors in Europe and the US.
Carlyle has been the major shareholder of P&I since June 2004.
P&I achieved earnings before interest and taxes of €12.3m in the year ending 31 March 2007. Total sales amounted to €54.5m, according to a statement.
Michael Wand , managing director, Carlyle, said, 'P&I has achieved strong growth during our three-year holding period: 185 per cent increase in EBIT, 36 per cent increase in revenues, 50 per cent increase in licence revenues and an 18 per cent increase in headcount. These efforts also resulted in a three-fold increase in share value to all public shareholders. With this evolution P&I has fulfilled all targets of our initial investment thesis and is well positioned for future growth. More recently the company gained additional momentum through strategic partnerships including ADP and LogicaCMG. P&I now benefits from greater liquidity and a strong institutional shareholder base.'
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