Freeths advises on the sale of PayCaptain to Citation

Leading law firm Freeths has advised Simon Bocca and the selling shareholders of PayCaptain Payroll Solutions Limited, a payroll services company, on the sale of the business to Citation Group.

Founded in 2020, PayCaptain is a cloud-based payroll software and financial wellbeing platform which supports employers with payroll processing, employee engagement and financial wellness tools. The business works with companies across the UK, providing payroll technology designed to improve the employee pay experience.

Citation Group is a leading provider of compliance, HR, employment law and health and safety services to SMEs across the UK.

The transaction marks an important milestone for PayCaptain as it looks to accelerate its next stage of growth as part of the Citation Group.

The Freeths team was led by Corporate Partner Malin Svanberg Larsson and Corporate Associate James Allen. The wider Freeths team included Corporate Senior Associate Hollie Robinson, Corporate Trainee Solicitor Adam Lilley and Head of Financial Services Regulation Sushil Kuner. Employment support was provided by Partner Nicola Wallbank, and the Tax and Incentives team was led by Director Anamika Pandey and Associate Dhruv Shah.

Corporate finance advice was provided by CapEQ, which meant that, along with Freeths and PayCaptain, three B Corp recognised companies came together to deliver the transaction.

Commenting on the deal, Malin Svanberg Larsson said: “This transaction represents an exciting next step for PayCaptain and its shareholders. The business has built a strong reputation in the payroll and financial wellbeing space through its innovative technology-led offering, and Citation is a natural strategic fit to support its future growth. It was a pleasure to work with Simon and his team on this significant transaction and we look forward to seeing the business continue to develop as part of the Citation Group.”

Simon Bocca, Founder and CEO at PayCaptain, added: “Working with the Freeths team has been a fantastic experience. We were very happy with the exceptional service provided by Malin, James and the rest of the team who demonstrated a real understanding of our objectives and priorities throughout. Their responsiveness, commercial insight and support made the entire process feel straightforward, efficient, and well managed. Their collaborative approach and clear communication gave us confidence at every stage. We are excited about the next stage of our journey as part of the Citation Group.”