In a significant move within the software industry, Apax Global Alpha Ltd. announced its acquisition of Zellis UK Ltd., a leading provider of payroll and HR software solutions in the U.K. The transaction, valued at approximately €36 million ($38.4 million), is to be financed through one of its dedicated funds.
Apax Funds To Acquire Zellis Group : Strategic Acquisition by Apax
Originating from Guernsey, a British Crown dependency, Apax plays a pivotal role as a limited partner in the Apax XI Fund, which executed this private deal with U.S. investment titan Bain Capital LP.
The acquisition is masterfully orchestrated by a team of legal experts, with Kirkland & Ellis LLP’s corporate partners Jacob Traff, Stuart Boyd, and Andrew McAlpine taking the lead, alongside a team from Weil, Gotshal & Manges LLP spearheaded by partners Chris McLaughlin, Alex Eagle, and counsel Edward Hyde, all based in London.
Advising Bain and the Bristol-based Zellis, the legal team from Ropes & Gray LLP included private equity transactions partners John Newton and Bill Mone with senior associate Nick Matthew.
Exciting Growth Prospects for Zellis
Roy Mackenzie, a partner at Apax, remarked on the acquisition, highlighting Zellis as an “impressive” entity with an ideal blend of innovative products and robust customer relationships. “Zellis’s recent technological advancements and strategic market positioning signal promising long-term growth through additional investments and potential mergers,” Mackenzie stated.
