Saffery provided buy-side financial due diligence services to IPE Ventures, a private equity fund which focuses on deploying buy-out and growth capital for companies operating in the recruitment and payroll sectors.
The transaction was the buy-out of i4 Pay Partners, an umbrella payroll services provider working within the veterinary, education and public sectors. The acquisition is a bolt on to Payme, an existing portfolio company, enabling the expansion of the IPE payroll platform.
The founders of i4 Pay Partners will be staying at the company in order to facilitate a seamless transition.
Niraj Patel, Partner and Head of Corporate Finance at Saffery commented: “We were delighted to advise in this deal and look forward to seeing the growth and development of the umbrella payroll activities within the Payme Group in the coming months and years.”