The Access Group, based in Loughborough, has acquired CoreHR, a UK and Ireland HR and Payroll software provider for Mid-Market & Enterprise level businesses.
The addition of CoreHR, follows soon after the groups’ acquisition of People, the provider of HR software to SMEs.
CoreHR’s HR software, currently serves more than 270 customers with more than 1 million users accessing the solutions. With a strong presence across the Public, Government & Education, Retail, Hospitality & Leisure and FMCG, Distribution & Manufacturing sectors, CoreHR serves organisations including, Aston Villa, Cineworld, JD Sports, Rank Group and the University of Oxford.
The CoreHR solution set covers the key areas of HCM including People Management, Payroll, Workforce Management, Recruitment, Talent Management and Learning and going forward will be made available through the Access Workspace platform.
This most recent acquisition establishes Access’s position in the UK marketplace, with revenues in this sector alone in excess of £100m. The combination of these HCM focused assets will form the Access People Division and Dean Forbes, the current CEO of CoreHR, will become its President.
Chris Bayne, CEO of Access, said: “The European HCM and Payroll market is worth $5.2Bn with just under half of this market being served by pure SaaS solutions with an impressive growth rate of over 15%.
“CoreHR is a key player in this space and adds significant scope for Access to deliver even more solutions, to a broader range of organisations, across multiple markets, in particular allowing us to bring Access Workspace to the Irish market.
“The combined HCM offerings, Access can now deliver, will further strengthen our ability to take a bigger share of this growing market over the coming years, with our goal to double the current revenues by the end of our 2024 financial year.”
Dean Forbes, CEO of CoreHR, said: “Over the past 36 years CoreHR has created a world class Human Capital Management system, built on the expertise of our people, in partnership with our customers that delivers real value.
“When we met the team at Access we recognised the opportunity to provide an excellent home for our customers, solutions and the team at CoreHR, as we step into our next stage of growth. Access is fully committed to help us further enhance the depth and range of our products directly and via connectivity to the Access Workspace Suite of solutions.
“We are excited to be joining Access as part of the newly formed Access People Division and everyone in the team from Access and CoreHR are fully committed to helping make Access the company of choice for HCM, HR and Payroll solutions.”
Arma Partners acted as exclusive corporate financial advisors to CoreHR.