Bain to acquire NGA UK

Kenny Wastell
10 October 2017

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Bain Capital has agreed to acquire the UK mid-market and server message block (SMB) divisions of payroll and HR software provider NGA Human Resources (NGA HR).

Following the transaction, which includes the acquisition of the MoorePayHR brand, the newly independent company will undertake an acquisitive growth strategy.

As part of the deal, NGA HR's UK managing director Jonathan Legdon will take on the role of CEO at NGA UK.

Bain is currently investing from its fourth European vehicle, which held a final close in October 2014 on €3.5bn. According to unquote" data, the vehicle was 36% deployed as of March 2017.

The divestment by the trade buyer forms part of its strategy to focus exclusively on the multinational and large domestic employer space. It follows the sale of its Australia and New Zealand mid-market division earlier this year.

The deal is subject to antitrust and regulatory approval, and is expected to complete early in 2018, according to a statement.

A spokesperson for Bain declined to comment on the deal valuation.

Company
Headquartered in Hemel Hempstead, Hertfordshire, NGA UK provides HR software to British and Irish mid-market companies. The business has 8,500 clients, according to a statement, and its platforms focus on recruitment, HR, payroll and workforce management.

People
Bain Capital – Christophe Jacobs van Merlen (managing director).
NGA UK – Jonathan Legdon (CEO).
NGA Human Resources – Andy Mondshaw (CEO).

Advisers
Equity – Evercore (corporate finance); Ropes & Gray (legal).
Vendor – Goldman Sachs (corporate finance); Kirkland & Ellis (legal).