TimeMoto, a specialist in workforce management solutions, announces a strategic partnership with the U.S.-based Workwell Technologies, a subsidiary of Battery Ventures. This move creates a powerful global platform for time tracking, tailored to small and medium-sized enterprises. Hogenhouck M&A served as the exclusive M&A advisor for the carve-out and international sale transaction.
About TimeMoto
TimeMoto is a multi-award-winning platform that has its roots in Safescan, the company founded in 2004 by the Biesaart brothers that specializes in counterfeit detection and cash counting solutions. In 2009, the company expanded into time clocks, a rapidly growing product line that led to the introduction of the independent TimeMoto brand in 2017. With the launch of its own software platform, TimeMoto grew within a few years to become a leading player in the European workforce management market.
“Joining the Workwell family ushers TimeMoto into a new phase of growth,” says Tim Hartsink, CEO of TimeMoto. “By combining our strong position in the European market with Workwell’s global platform and expertise, we can scale up faster, innovate more effectively, and deliver even greater value to our customers. We remain fully committed to helping companies manage their workforce with simplicity, accuracy, and confidence.”
About Workwell Technologies
Workwell Technologies is the market leader in innovative solutions for small and medium-sized businesses in the United States. From advanced cloud-based time and attendance tracking to the latest technologies in point-of-sale and mobile payments, Workwell provides products and services that save customers time and money while supporting essential business processes.
“TimeMoto has developed an impressive platform that aligns perfectly with our focus on providing user-friendly, high-quality time and attendance systems for small and medium-sized businesses. They have become the de facto market leader in Europe, and that aligns seamlessly with our position in the United States,” said Andrew Newby, Co-CEO of Workwell Technologies.
Strategic Partnership
TimeMoto and Workwell’s vision of providing high-quality, cost-effective workforce management solutions to small and medium-sized businesses aligns seamlessly. The partnership between TimeMoto and Workwell creates a strong intercontinental market position with significant synergies.
The M&A process
The owners of TimeMoto were advised on this transaction by Mark van Beusekom, Bas Schellekens, and Tijmen Bruin. The team provided support for the carve-out and transition between TimeMoto and Safescan, as well as the sale to Workwell Technologies.
Mark van Beusekom, a partner at Hogenhouck M&A, commented on the transaction: “As a fast-growing European platform for workforce management solutions, TimeMoto aligns with Workwell Technologies’ ambition to establish a strong foothold in Europe. By developing TimeMoto’s future strategy and carve-out and bringing the right parties to the table, we have created a powerful transatlantic partnership with further opportunities for both organic and acquisition-driven growth.”
Tim Hartsink, CEO of TimeMoto, on the collaboration with Hogenhouck: “The M&A team of Mark, Bas, and Tijmen played a crucial role in successfully completing this transaction. Their ability to clearly define our strategic positioning, convincingly justify the carve-out, and identify the right international buyer directly contributed to creating this strong combination. Their deal experience, negotiating skills, and sense of timing made it possible to find the best-fit partner for TimeMoto and secure optimal terms.”
Ron Biesaart, founder and shareholder of Safescan and TimeMoto, says: “This transaction marks an important milestone in TimeMoto’s development. In recent years, the TimeMoto team has demonstrated great resilience and professionalism in building a solid and scalable platform with clear growth momentum. Workwell is the right strategic owner to drive the next phase of growth. The process was executed with precision and dedication by Hogenhouck M&A in its role as both dealmaker and corporate finance advisor.”
