PAYA Group Acquires Interactive Transaction Solutions

Pierce Corporate Finance advised PAYA Group.

ITS is a Chichester-based company previously owned by both American Express and Ingenico and whose service provides processing of commercial card data for over 3,000 customers. Its acquisition is PAYA Group’s largest to date, according to PAYA CEO Bill Thomson.

“It broadens our portfolio of services and introduces a new segment of customers that need tailored payment services and support to meet their needs,” Thomson said in a statement. “The ITS newly refreshed technology capabilities are complementary to our existing in-house systems built over the past 12 years.”

Franklins Solicitors advised on the acquisition with a team led by associate partner Holly Threlfall and associate Justin Wilson.

Justin Wilson at Franklins Solicitors LLP, Holly Threlfall at Franklins Solicitors LLP 

What tasks did Holly Threlfall and yourself undertake during this transaction?

From the outset, we prepared and advised our client on the key aspects of the core and ancillary legal documentation to effect the acquisition, working closely with Pierce Corporate Finance throughout the transaction.

We undertook a detailed due diligence review to ensure our client was up to speed with the key aspects of the target company’s business to help ensure this acquisition completed as smoothly as possible.

What unique skills and experiences did the Franklins Solicitors team bring to the acquisition?

Our corporate team at Franklins are very experienced in M&A transactions. We used this and our skill set to ensure our client was advised fully and properly, ensuring the risk involved when entering into this acquisition was as limited as possible, whether this was advising the client, drafting the documentation or just generally. Of course, there is always some element of risk in these types of transactions, but we wanted to ensure our client was as comfortable as possible when it was time to complete.

Did you encounter any significant challenges during the process? How did you tackle them?

There were not any specific issues as such. We just needed to follow our usual process in making sure that our client had their required protections in the core legal documentation and that they were made aware of any issues that raised concern through the due diligence process, as is the norm in negotiations of these types of transactions.