Travers Smith LLP has advised PaySuite Limited, a division of long-standing client The Access Group, on the acquisition of Pay360 Limited, a leading UK provider of credit card and payments facilitation services to the public and private sector.
With c.200 employees, Pay360 has been providing secure payment services to a range of customers across the public and private sectors for more than 20 years, processing £8.6bn in transaction value across 142 million transactions in 2021. The addition of Pay360's online payment solutions business is the latest addition to The Access Group's unique breadth of industry-leading technology and will strengthen Access PaySuite’s payments processing capabilities by adding card payments and payment facilitation to its existing payments solutions.
Completion of the transaction is subject to fulfilment of certain regulatory conditions.
The Travers Smith team was led by Private Equity & Financial Sponsors Partners Genna Marten and Alex Dixon, supported by Senior Associates Caleb Jones and Max Conway and Associates Sarah Owadally, Tiarnan McKeown and Nikesh Arya. Specialist advice was provided by Tax Partner Hannah Manning and Tax Associate Katherine Williamson, Incentives and Remuneration Senior Counsel Elissavet Grout and Associate Tom Leatherby, and Commercial, IP & Technology Partner James Longster and Commercial, IP & Technology Associates Andrew Maxwell and Nick Brady.
