Optima acts as corporate finance advisor for the acquisition of Easypay Services by Workr Group
Workr Group, a leading international employment services provider, is pleased to announce the acquisition of Easypay Services, a Leeds based company providing funding and back office services to recruitment agencies.
Easypay will join Workr Solutions, an existing business unit of Workr Group, that specialises in accelerating time to value for recruitment agency and end-clients by providing specialist consultancy services and innovative back office solutions. The acquisition will extend Workr Solutions’ services to include funding capabilities and will be headed by Yves Bizimana, Managing Director of Workr Solutions.
Yves Bizimana commented: “At Workr Solutions we have seen an increase in opportunities to manage more of our clients’ back office functions, allowing them to focus on recruiting. Funding is a key challenge for many of our partners and Easypay’s expertise will allow us to add even more value to the industry.”
Founded in 2003, Easypay employs a team of 25 experts who intimately understand the recruitment funding landscape. The team offer a personalised service to both existing and start-up agencies to help grow their agencies whilst minimising their risk.
Stephen Mix, Director of Workr Group led the acquisition and commented: “Easypay is a fantastic business with strong core fundamentals, focusing on customer service and good operational controls. The acquisition adds to our portfolio of complementary companies that have been designed to simplify flexible working across the supply chain. It is the sixth acquisition we have made in the last five years and will help fuel our continued growth.”
Mix continued, “Easypay is a good strategic and cultural fit and offers synergies with our other business units. Easypay’s funding expertise expands our current capabilities and will allow us to connect our excellence in a way that provides clients with an unrivalled offering enabling them to outsource with confidence.”
Commenting on the acquisition, Founder of Easypay Amanda Hobson said: ‘Workr Group stood out in the sale process as their strong values-led culture closely aligned to that of our own. Our management team are looking forward to becoming an integral part of Workr Solutions and supporting one another to continue our strong growth trajectories.”
Finance Director Sarah Shaw who will work with Yves moving forward added “The acquisition by Workr Group is the ideal platform for Easypay to develop a more robust service offering for our existing clients adding additional value.”
Philip Ellis from Optima Corporate Finance acted as corporate finance advisor to Easypay. He commented “This deal was being negotiated pre-lock down. Both businesses were impacted for a while, but dialogue was maintained and given the commercial logic underpinning the transaction, commercially acceptable terms were agreed. This deal sends a signal that deal making remains active”.
Workr Group were represented by Fieldfisher LLP and supported by EY for financial and tax due diligence and Easypay Services was represented by Gordons LLP.