Arma Partners advises CoreHR, a leading cloud-based HR and payroll software provider, on its sale to The Access Group
Arma Partners is pleased to announce that it has acted as exclusive financial advisor to CoreHR (a portfolio company of JMI Equity) on its sale to The Access Group (a portfolio company of TA Associates and Hg).
Headquartered in Cork, CoreHR provides a comprehensive suite of cloud-based HR and payroll software solutions to over a million users in 270 enterprise and mid-market customers across the UK and Ireland. Since JMI Equity invested in 2016, the company has successfully transitioned its customer base from legacy perpetual licences to a SaaS model, driving value creation for both customers and shareholders.
The Access Group will combine CoreHR with its existing HR and payroll offerings to form the Access People Division, with revenues in excess of £100m and customers ranging in size from 10 employees to over 10,000. The acquisition will allow the combined business to take a bigger share of the $5.2 billion European HCM and payroll market and bring the Access Workspace suite of solutions to the Irish market.
This transaction underscores Arma Partners’ ability to deliver highly successful outcomes for companies transitioning to a SaaS model and reinforces the firm’s strong track record in the payroll and HCM software sector.