Arma Partners is pleased to announce that it has acted as financial advisor to Funds Advised by Apax Partners on the acquisition of Zellis Group from Bain Capital.

Zellis Group is one of the leading providers of payroll and HR software solutions to customers in the UK and Ireland, and an emerging leader in the global benefits administration software market. Zellis’ solutions are critical in helping businesses navigate regulatory complexity and workforce uncertainty. Operating in a structurally growing market, it has strong core business fundamentals with a high degree of recurring revenue and customer retention.

The Company’s Zellis and Moorepay businesses are market-leading HR and payroll technology partners to businesses across the UK and Ireland. The company serves approximately one third of the FTSE 100, with its payroll software used to pay or reward c.5 million individuals each month. The Company’s Benefex business helps over 900 companies across more than 90 countries transform and align the experiences of more than two million employees globally though their modern benefits, wellbeing, rewards and recognition, and communications platform.

This transaction further demonstrates Arma Partners’ expertise in executing landmark transactions on behalf of global private equity investors and underscores our continued leadership position in the HCM software segment.