M&A Deal Summary

Apax Acquires Zellis

On April 15, 2024, private equity firm Apax acquired software company Zellis from Bain Capital Private Equity

Acquisition Highlights
  • This is Apax’s 23rd transaction in the Software sector.
  • This is Apax’s 34th transaction in the United Kingdom.

M&A Deal Summary

Date 2024-04-15
Target Zellis
Sector Software
Buyer(s) Apax
Sellers(s) Bain Capital Private Equity
Deal Type Secondary Buyout
Advisor(s) Evercore Group
Morgan Stanley (Financial)
Ropes & Gray (Legal)

Target

Zellis

Bristol, United Kingdom
website
Zellis provides payroll, HR, and managed services to UK and Ireland-based companies with over 500 employees. Zellis is based in Bristol, United Kingdom.

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Buyer(S) 1

Buyer

Apax

London, United Kingdom

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1981
PE ASSETS 60.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apax Partners is a mega-sized private equity investment group, operating across the United States, Europe, Israel and Asia. Broad industry sectors of interest include tech & telecom, media, retail & consumer, healthcare, financial services, and business services. Apax will consider both minority and majority investment positions and prefers companies with strong market positions and growth potential. The Firm generally pursues platform acquisitions valued from €1 to €5 billion. Apax Partners was formed in 1981 and is based in London.


DEAL STATS #
Overall 245 of 246
Sector (Software) 23 of 23
Type (Secondary Buyout) 61 of 61
Country (United Kingdom) 34 of 34
Year (2024) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-02-27 IES

Glasgow, United Kingdom

IES develops CAD building performance assessment and simulation software, improving sustainable building design for architects, engineers, planners, and facilities managers Worldwide. IES was founded in 1994 and is based in Glasgow, United Kingdom.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-23 IANS Research

Boston, Massachusetts, United States

IANS Research is a provider of independent research and advisory services for the information security industry. IANS Research is based in Boston, Massachusetts.

Buy -

Seller(S) 1

SELLER

Bain Capital Private Equity

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Bain Capital Private Equity (BCPE), is the private equity investment arm of alternative asset management firm, Bain Capital. BCPE targets leveraged buyout and growth capital transactions in a wide variety of industries including information technology, communications, media, healthcare, industrial/manufacturing, retail/consumer, and financial services. Bain Capital is based in Boston with additional offices in New York, London, Mumbai, Hong Kong, Shanghai, Tokyo, and Munich.


DEAL STATS #
Overall 138 of 138
Sector (Software) 10 of 10
Type (Secondary Buyout) 29 of 29
Country (United Kingdom) 7 of 7
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-28 Emerald Bay Risk Solutions

Morristown, New Jersey, United States

Emerald Bay Risk Solutions is a specialty insurance firm provides insurance solutions. Emerald Bay Risk Solutions is based in Morristown, New Jersey.

Buy -