M&A Deal Summary

Paychex Acquires Lessor A/S

On March 1, 2018, Paychex acquired information technology company Lessor A/S from Axcel

Acquisition Highlights
  • This is Paychex’s 1st transaction in the Information Technology sector.
  • This is Paychex’s 1st transaction in Denmark.

M&A Deal Summary

Date 2018-03-01
Target Lessor A/S
Sector Information Technology
Buyer(s) Paychex
Sellers(s) Axcel
Deal Type Add-on Acquisition

Target

Lessor A/S

Lillerod, Denmark
Lessor A/S is a provider of efficient and flexible IT solutions for handling payroll, time registration, rosters and HR solutions. Lessor A/S was established in 1972 and is based in Lillerod, Denmark.

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Buyer(S) 1

Buyer

Paychex

Rochester, New York, United States

Category Company
Founded 1971
Sector Business Services
Employees15,600
Revenue 5.3B USD (2024)
DESCRIPTION
Paychex office in North Reading, Massachusetts.
Paychex office in North Reading, Massachusetts.

Paychex is a provider of comprehensive payroll and integrated human resource and employee benefits outsourcing solutions for small- to medium-sized businesses in the US. Paychex was founded in 1971 and is based in Rochester, New York.


DEAL STATS #
Overall 18 of 22
Sector: Information Technology M&A 1 of 1
Type: Add-on Acquisition M&A Deals 15 of 19
Country: Denmark M&A 1 of 1
Year: 2018 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-22 HROI

Lawrenceville, Georgia, United States

HROI is a professional employer organization and administrative services organization. HROI was founded in 2001 and is based in Lawrenceville, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-26 Oasis Outsourcing

West Palm Beach, Florida, United States

Oasis Outsourcing is a Florida-based Professional Employer Organization (PEO) serving almost 230,000 employees and 7,500 clients nationwide. Founded in 1996, it specializes in providing human resources services, employee benefits administration, payroll and tax administration, risk management services and staffing solutions to small- and medium-sized businesses throughout the United States. Oasis is accredited by the Employer Services Assurance Corporation (ESAC), ensuring the highest level of ethical, financial and operational standards in the PEO industry and has received SOC 1 Type II (formerly SAS 70) certification for its high level of accuracy and performance. Oasis, through its subsidiaries, is qualified to offer IRS-certified professional employer organization (CPEO) services.

Buy $1.2B

Seller(S) 1

SELLER

Axcel

Copenhagen, Denmark

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 4.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Axcel Management AS is a private equity firm focused on mid-market buyouts in Denmark and Sweden. Axcel primarily seeks companies with a strong Danish or Swedish base and international potential. The Firm looks to invest in companies with revenues of DKK 250 million (€ 35 million) to DKK 4 billion (€ 535 million). Axcel prefers majority positions. Axcel Management A/S was formed in 1994. The Firm is based in Copenhagen with an additional office in Stockholm.


DEAL STATS #
Overall 33 of 49
Sector: Information Technology M&A 2 of 5
Type: Add-on Acquisition M&A Deals 7 of 15
Country: Denmark M&A 25 of 36
Year: 2018 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-02 ISADORA

Malmö, Sweden

ISADORA is a Swedish producer and distributor of cosmetics with production. Its products for the eyes, face, lips and nails are sold by around 5,000 stores in 40 countries. The main markets are Sweden, the other Nordic countries, Germany and the Middle East. Products are sold directly to department stores, perfumeries, fashion outlets and online retailers in Sweden and another six European countries, and through distributors elsewhere. The business is owned by founder and CEO Ingvar Vigstrand and his family. ISADORA was founded in 1983 and is based in Malmö, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-19 Driconeq Production AB

Sunne, Sweden

Driconeq is a manufacturer of drilling pipes and equipment for the mining and construction sectors, water wells and geothermal energy. Its products are known for their high quality and sold through distributors, drilling rig manufacturers and business partners worldwide.

Sell -