BHSM were delighted to act in the transactions involving Relate Software and BrightPay, backed by Hg Capital, which will combine products from both businesses to create a market leading payroll and accounts software service to SMEs and accountancy practices throughout Ireland and the UK.
BrightPay, with over 20 years experience in the sector, provides and supports a range of innovative payroll & HR software solutions; including BrightPay, BrightPay for Mac, BrightPay Connect, Bright Contracts and Thesaurus Payroll Manager. Its products are in use by over 330,000 employers in the UK and Ireland.
Relate Software, founded in 2002, offers innovative and focused products specifically for the accountancy profession. Its offering also includes Surf products, a modern, cloud native product suite of bookkeeping, post-accounting, and practice management software to accountancy bureaus and SMEs.
Hg is a leading investor in innovative software and services. Based in London, Munich and New York, it has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 55,000 employees globally, growing at over 20% per year.
The BHSM team was made up of Eimear Grealy and Sarah O’Reilly in Corporate, who advised both Relate and BrightPay in their transactions with Hg Capital and James Lawless in Commercial Real Estate, who provided advice on property matters to Relate.
The newly created group will bring together the two complementary businesses and their operational strengths and sector-leading products whilst, with the support of Hg, investing further in new cloud innovations to deliver increased automation, efficiency and value for their customers. The combined group will have over 190 employees and has plans to further grow headcount to continue providing best-in-class services and support for its payroll, accounting and SME customers across both the UK and Ireland.
For more information on the transaction, please follow the links below:
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