Paysure snapped up by acquisition-hungry rival
GREATER Manchester-based contractor accounting firm Paysure has been acquired by Watford-headquartered rival JSA Services.
Altrincham company Paysure specialises in the freelance and temporary worker sector and now its two partners Loren Taylor and Glen Dibley will be joining JSA as consultants immediately.
The deal – the value of which was undisclosed – will be the sixth acquisition in the last two and half years for the highly acquisitive group.
The corporate finance team at accountancy and business advisory firm BDO in Manchester advised Paysure on the transaction. The BDO team was led by M&A partner Ruth Percival and M&A director James Fieldhouse.
Fieldhouse said: “Accounting services is an active M&A market at the moment with trade acquirers taking advantage of the changing legislative landscape. The market is consolidating with a number of platforms such as JSA on the lookout for bolt on acquisitions.”
Kwasi Missah, managing director at JSA, said: “We are delighted to have been able to acquire a business with such an excellent track record as Paysure. The firm operates within the same sector and thus has a great deal in common with JSA culturally, commercially and operationally. Our values are very much aligned.”
Loren Taylor, co-founder and partner at Paysure, added: “It has been a real pleasure working with Kwasi and JSA CEO, Andrew Goodman, on this transaction. Glen Dibley and I are very proud of the business we’ve built up over the past six years at Paysure.
“We know that our customer base will continue to thrive as part of JSA Services and we both look forward to joining the team there, helping to take the combined business to the next level.”
A Field Fisher team led by Jim Trustcock and Mark Lupton provided legal advice to the vendors with Ward Hadaway acting for JSA Services.
