Hg invests in BrightPay

The deal is the first transaction from the GP's £75m Hg Transition Capital fund, which makes either debt or minority preferred equity investments that guarantee the receipt of dividends prior to other shareholders.

Hg said the company is well positioned to capitalise on significant changes to payroll systems in Ireland, which come into effect from January 2019. The changes will require employers to report PAYE to the Irish revenue commissioners in real time and BrightPay claims it has already invested significantly in technology to facilitate this.

Company
Headquartered in Dublin and founded in 1991, BrightPay is a developer of accounting and HR payroll software, which it markets under the BrightPay and Thesaurus Software brands. The company has clients in both Ireland and the UK.

People
Hg - Peter Miholich (director).
BrightPay - Paul Byrne (managing director).

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