Funds advised by Apax Partners (Apax) are to acquire the Zellis Group (Zellis), a provider of payroll and HR, and global benefits administration software solutions to customers in the UK and Ireland, from Bain Capital.
Since acquiring the business in 2017, Bain Capital has established a new, experienced leadership team to strengthen capabilities across all divisions. Zellis Group has strengthened its core cloud-based HR and payroll offerings, added a benefits administration software platform through the 2018 acquisition of Benefex, and accelerated growth.
Zellis Group’s software and technology solutions serve approximately one third of the FTSE 100, with its payroll software used to pay or reward circa five million individuals each month. The Company’s Benefex business meanwhile, provides a benefits, wellbeing, rewards and recognition, and communications platform to over 900 companies across more than 90 countries.
Zellis Group is headquartered in Bristol, with operations in the UK, Ireland, India and the Philippines.
Zellis and Bain Capital were advised by Evercore and Morgan Stanley (financial advisors) and Ropes & Gray (legal advisor). Apax was advised by Kirkland & Ellis, Weil, Gotshal & Manges, Arma Partners, and Citigroup.
