Munich, January 23, 2026 – WTS, a global full-service provider for tax consulting services and financial and deal advisory, advised Alpha VCX and Invest AG from Austria on their investment in comvaHRo GmbH, a Grasbrunn-based provider of HR software and payroll outsourcing with a focus on the DACH region. The scope of advice included financial and tax due diligence.
comvaHRo is a provider of HR software (SaaS) and payroll outsourcing based in Grasbrunn near Munich. Since Alpha VCX and Invest AG became involved in September 2025, it has had two strong investors at its side to pursue its path of further growth.
The partners support comvaHRo's buy-and-build strategy: the portfolio of digital HR processes – from personnel administration, time recording, and applicant management to operational payroll services – will be further diversified and specialized. The transaction is intended in particular to expand the market position in the DACH region and strengthen the presence in Germany, Austria, and Switzerland.
WTS provided comprehensive support for the transaction in the areas of finance and tax.
The WTS deal advisory team led by Christian Hörmann was entrusted with conducting the financial due diligence.
The WTS tax team led by Christian Schiessl carried out the tax due diligence.
WTS consulting team
Financial Advisory:
Christian Hörmann, Partner
Alexander Meinl, Consultant
Konstantin Baier, Consultant
Tax Advisory:
Christian Schiessl, Partner
Aleksandra Hallberg, Senior Manager
Manuel Tremmel, Manager
About Alpha VCX
Alpha VCX is a Vienna-based, owner-managed investment company focusing on software and IT companies. Alpha VCX invests in established companies as well as companies with rapidly scalable business models. Thanks to its extensive operational experience in building companies, Alpha VCX sees itself as a partner to owners and management.
About Invest AG
Invest AG is one of Austria's leading private equity investors and focuses on growth and succession solutions for medium-sized companies. It manages a total volume of over €400 million and invests in companies in the DACH region.
About WTS Advisory GmbH
WTS Advisory is an independent, innovative solution provider offering targeted consulting and active operational support to companies across the entire CFO agenda. This includes solutions ranging from external reporting, finance department optimization, governance, risk, and compliance issues to M&A and transaction consulting.
WTS Advisory is part of WTS, a global full-service provider of tax consulting and financial and deal advisory services. WTS has 11 locations in Germany and is represented in more than 100 countries worldwide.
The Deal Advisory division of WTS Advisory & WTS offers integrated consulting on financial (WTS Advisory) and tax (WTS) aspects throughout the entire transaction process. The WTS Advisory M&A Strategy and Deal Advisory team supports corporate transactions, for example in the form of financial due diligence investigations and other M&A buy-side and sell-side services, as well as valuation services such as expert and indicative company valuations, fairness opinions, purchase price allocations, impairment tests, and post-deal implementation.
