Workr Group acquires Easypay to add funding to service offering
UK international employment services provider Workr Group has broadened its offering with the acquisition of Easypay Services, a Leeds-based company providing funding and back office services to recruitment agencies.
Easypay, founded in 2003, employs a team of 25 recruitment funding experts who provide personalised solutions that support the growth of existing and start-up recruitment agency clients.
Easypay will join Workr Solutions, a business unit of Workr Group that specialises in accelerating time to value for recruitment agencies 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. Bizimana says: “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.”
Stephen Mix, director at Workr Group, led the acquisition. “Easypay is a fantastic business with strong core fundamentals, focusing on customer service and good operational controls,” he says. “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.”
Easypay founder Amanda Hobson says: ‘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.”
Philip Ellis, Optima Corporate Finance, who acted as corporate finance advisor to Easypay, said the deal was being negotiated prior to lockdown. “Both businesses were impacted for a while, but dialogue was maintained and given the commercial logic underpinning the transaction, commercially acceptable terms were agreed,” he commented. “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.
Terms of the deal have not been disclosed.
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