Wed, 31 Jul 2024 | BUSINESS SALE
A payroll firm based in Ammanford has acquired a counterpart based in the South West of England in an acquisition that facilitates significant growth. Augustus Payroll Services has acquired Bristol-based Payroll Compliance Limited.
The acquisition increases the number of companies that Augustus Payroll Services works with, while providing the company with a strong foothold for growth in the South West of England – a new territory for the firm.
The deal reportedly brings in around 85 new customers from a wide range of sectors across Bristol and the South of the UK. Kay Augustus (pictured above), owner of Augustus Payroll Services, said that the company now has “a diverse and wide-ranging customer base on which we can build”.
Howard Thompson, Regional Executive of UKSE, which supported the acquisition through a regeneration loan, commented: “We are delighted to support Augustus Payroll Services. The firm is planning to create local jobs which will boost the economy. As well as this it will provide an important service to local companies and clients farther afield helping them get their payroll systems correct and make them more efficient.”
Augustus Payroll Services received legal advice and guidance from Peter Lynn and Partners Solicitors during the transaction. The deal was completed within a two-week time-frame, led by lawyers James Lewis-Hyndman and Rob Cherry.
Kay Augustus said that, despite the “very tight timescale to complete the purchase”, Lewis-Hyndman and Cherry “were more than up to the task which allowed us to complete the deal without any disruption to the client bank we acquired."
Lewis-Hyndman added: "Kay certainly set us a challenge with the timescale of this transaction, however, thanks to our extensive experience in business acquisitions such as this, we were able to undertake the transfer of ownership in a timely manner that satisfied all parties and we wish Kay well as she seeks to develop her business further."
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