Mazars M&A team are delighted to have acted as corporate finance adviser to Intelligo Software on its acquisition by SD Worx. Intelligo is Ireland’s leading payroll software provider and the transaction marks a key step in SD Worx’s ongoing international expansion.
Intelligo Software was formed in 1996 and has been building innovative payroll solutions software for over 25 years. Its offering includes the Megapay products, a modern, cloud hosted suite of Payroll & HR software which provides innovative solutions to enterprise clients and accountancy bureaus in the Republic of Ireland and the UK. Intelligo is the leading payroll software provider in Ireland with over 20% of Corporate Ireland’s payroll submitted through their payroll technology.
Padraig Gill, founder and CEO of Intelligo Software, said: “Since 1996, Intelligo has built a reputation for being a trusted payroll and HR solutions provider. By joining with SD Worx, we believe that we can continue to deliver on this commitment, and that our clients will benefit from the European-wide footprint and experience SD Worx offers. We also believe that SD Worx customers will benefit from our extensive local Irish knowledge and expertise. We all look forward to seeing the relationship thrive as we combine forces and integrate services over the coming months. We would to thank the Mazars team, led by John Bowe, Sean Damery and Damian Connaughton for their invaluable advice, hard-work and professional approach in bringing this deal to a successful conclusion”.
John Bowe, Mazars Partner, Deals – M&A, said that “this transaction is a fantastic result for Intelligo and SD Worx which brings together two leading payroll and HR software companies. Both businesses provide a complementary product suite of integrated cloud payroll and HR software to a similar customer base. It will strengthen their already impressive position in the market and allow the group to continue their momentum in the attractive Irish, UK and European markets. Mazars were delighted to provide deal advisory services on this transaction and it highlights our credentials in advising software and SaaS businesses. Congratulations to Padraig Gill and John Kelleher, it is great to see Irish entrepreneurs who take risks to build great businesses get the rewards they deserve.
SD Worx are the leading European HR solutions provider with consolidated turnover in excess of €850m. The group are experiencing rapid acquisitive and organic growth. SD Worx currently employ over 6,200 professionals and are present in 22 countries including France, Germany, Belgium and the UK & I.
Kobe Verdonck, CEO of SD Worx, said: “Having Intelligo join SD Worx further reinforces our ambition of being the leading European provider of integrated end-to-end HR solutions for all organisations and workers. We’re on a long-term expansion journey, and the acquisition of Intelligo bolsters our presence and offering in Ireland. Ireland is a hub of business interaction and our customer-base is ever-growing, so with this announcement our combined customers will, more than ever, benefit from our best-in-class HR services ”.