Bain Capital Sells Zellis Group to Apax Partners for £1.25 Billion
Bain Capital is selling UK payroll software company Zellis Group to Apax Partners for about £1.25 billion. Zellis' clients include Harrods and Jaguar. Apax is using a £450 million loan from private credit funds to partly fund the deal.
Key Takeaways
- Bain Capital to sell UK payroll software company Zellis Group to Apax Partners for about £1.25 billion ($1.56 billion).
- Zellis Group's clients include department store Harrods and carmaker Jaguar.
- The deal is partly funded with a unitranche loan of £450 million from private credit funds.
- The sale reflects the strong valuation of technology companies in the current market.
- Apax Partners continues to expand its investment portfolio in the technology sector.
Analysis
Bain Capital's sale of Zellis Group to Apax Partners for £1.25 billion, partly funded by a £450 million loan, reflects the strong valuation of technology companies in the current market. This transaction directly impacts Bain Capital and Apax Partners, while indirectly affecting Zellis' clients such as Harrods and Jaguar. The short-term consequence is a shift in ownership and financial structure, while the long-term impact may involve strategic changes in Zellis' operations and expansion. This sale signifies ongoing investment trends in the technology sector and may lead to further consolidation and investment activity in the future.
Did You Know?
- Zellis Group: Zellis Group is a UK payroll software company that provides payroll and HR solutions to businesses.
- Apax Partners: Apax Partners is a private equity firm that invests in technology companies and is expanding its investment portfolio in the technology sector through the acquisition of Zellis Group.
- Unitranche Loan: The deal is partly funded with a unitranche loan of £450 million from private credit funds. A unitranche loan is a type of financing that combines senior and subordinated debt into a single facility provided by a single lender.