PE Deals

PAI Partners to invest in Azets Group

Azets is a provider of business-critical accounting, tax, payroll, audit and advisory services to SMEs.

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  • PAI will hold an equal and co-controlling stake in Azets alongside current owners Hg
  • PAI is a private equity firm based in Paris, France
  • Hg is an investor in European and transatlantic software and services businesses

PAI Partners will invest in Azets Group, a provider of business-critical accounting, tax, payroll, audit and advisory services to SMEs.

No financial details of the transaction were disclosed.

Azets, formed by Hg, has 189 offices in the Nordics, UK, and Ireland. The company generates revenues of around £700 million (€820.52 million; $896.89 million).

PAI will hold an equal and co-controlling stake in Azets alongside current owners Hg, following completion of the deal.

“With its proven and resilient business model, Azets provides a strong platform for future growth,” said Colm O’Sullivan, a partner at PAI. “Thanks to its leading market positioning, the firm is well placed to benefit from the growing levels of compliance, regulation and outsourcing that underpin its core services market.

Azets, with this investment, will deepen its presence in new and existing markets across Europe via a combination of organic growth and further strategic M&A, according to a release.

PAI is a private equity firm based in Paris, France. The firm manages around €25 billion of dedicated buyout funds.

Hg is an investor in European and transatlantic software and services businesses. The firm has around 400 employees across London, Munich, New York, Paris and San Francisco.