Hg-backed Access Group pays up for Paycircle

Paycircle is a cloud-based collaborative payroll platform for payroll bureaus.

  • Hg has been invested in Access People since 2018
  • Access People is a division of The Access Group, a provider of business management software
  • Hg alongside TA Associates made a further investment in The Access Group in June 2022

Access People, a division of Hg-backed The Access Group, has announced it has acquired Reading, England-based Paycircle, a cloud-based collaborative payroll platform for payroll bureaus. Hg has been invested in The Access Group since 2018 and in June 2022 made a further investment in the Loughborough, England-headquartered group alongside TA associates.

Access provides business management software to UK mid-market organisations. Its portfolio spans finance, HR, payroll, hospitality, recruitment, health and social care, manufacturing and distribution, education and not-for-profit sectors.

“At a time of economic difficulty for many organisations, providing accurate, efficient and on-time payroll is more crucial than ever,” said Charles Butterworth, managing director, Access People.

Hg targets technology buyouts primarily in Europe and the US. It has over $55 billion in funds under management with nearly 300 employees across London, Munich and New York. It has led over 170 investments in the software and services sector since its inception.