M&A Deal Summary

IRIS Acquires Apex HCM

On March 28, 2023, IRIS acquired software company Apex HCM from Serent Capital

Acquisition Highlights
  • This is IRIS’s 9th transaction in the Software sector.
  • This is IRIS’s 3rd transaction in the United States.
  • This is IRIS’s 1st transaction in Georgia.

M&A Deal Summary
Date 2023-03-28
Target Apex HCM
Sector Software
Buyer(s) IRIS
Sellers(s) Serent Capital
Deal Type Add-on Acquisition

Target

Apex HCM

Roswell, Georgia, United States
Apex HCM is a provider of cloud-based Human Capital Management technology. Apex's comprehensive suite of products and services includes payroll, payroll tax, human resources, time and attendance, workers' compensation, payroll debit cards and other business management tools normally reserved for large enterprises. Apex's cutting-edge cloud-based technology allows its customers to compete effectively feature-for -feature with larger established firms, while dramatically improving their workforce productivity. Apex HCM was founded in 2008 and is based in Roswell, Georgia.

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Buyer(S) 1

Buyer

IRIS

Slough, United Kingdom
Category Company
Founded 1978
Sector Software
DESCRIPTION

IRIS is a private software house supplying business management solutions to over 60,000 customers, from start-ups to large organisations. IRIS was founded in 1978 and is based in Slough, United Kingdom.

DEAL STATS #
Overall 23 of 25
Sector (Software) 9 of 10
Type (Add-on Acquisition) 21 of 23
State (Georgia) 1 of 1
Country (United States) 3 of 4
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-26 myPay Solutions

Ann Arbor, Michigan, United States

myPay Solutions is an online payroll processing service designed to empower CPAs. The company provides comprehensive outsourced payroll and associated banking and tax services via CPA firms to small and medium-sized businesses across all 50 states in the United States. myPay Solutions is based in Ann Arbor, Michigan.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-15 SwipeClock

South Jordan, Utah, United States

SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

Buy -

Seller(S) 1

SELLER

Serent Capital

San Francisco, California, United States

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 2008
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Serent Capital is a private equity firm focused on investing in profitable, growing businesses featuring scalable business models and operating in sectors undergoing significant change. Serent looks for companies with $5 to $100 million in growing annual sales where it can commit $20 to $200 million of capital. Target transaction situations include buyouts, recapitalizations, and growth financings. Serent Capital was formed in 2008 and is based in San Francisco, California.

DEAL STATS #
Overall 22 of 27
Sector (Software) 8 of 10
Type (Add-on Acquisition) 18 of 23
State (Georgia) 2 of 2
Country (United States) 22 of 25
Year (2023) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-12-19 LinkIt!

New York, New York, United States

LinkIt! provides data warehousing, analytics, assessment, and MTSS solutions for K-12 schools. LinkIt! help school districts streamline collecting, managing, and analyzing student performance data to improve academic achievement, save time, and increase overall productivity. Specifically, the company’s data warehouse and assessment platform enable schools to store and analyze third-party and locally created data for all grade levels and subject areas. LinkIt! was founded in 2010 and is based in New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-10 BS&A

Bath, Michigan, United States

BS&A is a ERP software provider for municipalities across the United States. BS&A's platform empowers local government to streamline business processes and operations across finance, utilities, HR, community development, property assessments, and property taxes. BS&A is based in Bath, Michigan.

Buy -
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