SD Worx successfully closes acquisition of F2A

SD Worx, the leading European HR and payroll solutions provider, has successfully closed the acquisition of F2A, the Italian market leader in HR and payroll. With this transaction, SD Worx has taken a quantum leap in its expansion strategy to help customers of any size across Europe with their HR and payroll through software, managed services and expertise.

F2A was controlled by private investor Ardian since February 2016. SD Worx announced its intention to acquire F2A end of July. The acquisition was subject to merger controls and regulatory approvals, which were obtained successfully. The parties have now formally closed the transaction, SD Worx acquired 100% of the shares.

Kobe Verdonck, CEO of SD Worx: “We warmly welcome the more than 1,200 F2A colleagues and the +6,000 customers they support across two business units: HR & and Finance & Accounting. We see a lot of potential in the Italian business and are eager to help companies of any size through our software, managed services and expertise in payroll & reward, Human Capital Management and Workforce Management. I look forward to meeting the customers and I’m sure that Raul Mattaboni, who will continue to lead the Italian business, and his teams will soon feel at home in the SD Worx family.”

“This transaction marks an extraordinary milestone for all the professionals at F2A”, says Raul Mattaboni, CEO of F2A. “Becoming part of SD Worx not only celebrates the achievements attained through the relentless dedication of every colleague, but also opens up exciting new horizons to expand our offerings and to support our customers with the best services in a truly integrated European market. We are thrilled to work together with colleagues across Europe to develop innovative solutions that meet the ever-evolving needs of the Italian and international markets. With immense enthusiasm, we are ready to embark on this new chapter in our journey as part of the SD Worx team, committed to driving our shared success forward.”

For this transaction, SD Worx has been supported by EY (financial), EY Parthenon (commercial, technology), Linklaters (legal) and WTW (insurance). Ardian has been advised by Mediobanca (M&A), PedersoliGattai (legal), Gitti (tax), PwC (financial) and Endava (technology). 

F2A is the leading provider of tech-enabled services in the HR and F&A sectors in Italy. By placing constant technological research at the core of its services, F2A responds flexibly to the evolving demands of its customers. F2A listens to the needs of corporate top management and offers innovative solutions and high-performance services to support clients' growth in a market characterized by continuous change. With over 1,200 professionals, F2A serves nearly 6,000 customers, offering support tailored to their specific needs and fostering solid, long-lasting, reliable, and positive relationships.