Freeths advises Paycircle Limited on the acquisition of Paycircle by The Access Group
National law firm Freeths has advised the shareholders on the sale of Paycircle Limited, a cloud-based collaborative payroll platform provider, to Access People, a division of the Access Group.
Paycircle is a payroll platform developer and service provider with over 20 years’ experience building financial software and compliance platforms. The company has previously focussed on distributing its cloud-based payroll system through the bureau and accountancy channels and is used by some of the UK’s leading bureaus including Mazars, BHP and MHA Moore & Smalley.
The Freeths team was led by Corporate Partner Malin Svanberg Larsson, supported by Tax Director Claire Boyce, Associate Maddy Scott and Trainee Harry Fraser. CapEQ (Douglas Edmunds) provided corporate finance advice to the shareholders.
Commenting on the deal, Malin Svanberg Larsson said: “Supporting Paycircle through this transaction has been a pleasure. Working with two businesses coming together to further improve the payroll experience through tech has been very rewarding. The transaction further evidences our capabilities in the high-growth tech space, and this follows on from various roles we have had over the last 24 months.”
Catherine Pinkney, Managing Director and Founder of Paycircle, added: “Seeking out new opportunities to support our clients has always been at the heart of Paycircle’s approach. I’m thrilled about our next steps with Access People, integrating our offering within Access platforms to provide more efficient and streamlined payroll services. Together, we can move forward with a fully comprehensive service, thanks to our combined approach to investing in and developing software that is second-to-none.
The Paycircle payroll platform takes payroll from being a back-office admin process and integrates it into the heart of an organisation. My view is that “pay day” is about business and people and it’s not just about PAYE and pensions compliance or unfathomable payslips.”
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