October 15, 2020
Technology, Software, SaaS
Mergers and Acquisitions
GCA Advises Mitrefinch on Its Sale to Advanced
GCA has advised Mitrefinch, a global provider of workforce management software, on the sale to Advanced, one of Britain’s largest software and services companies. This is the second time GCA has worked with Mitrefinch, having advised the firm on a major investment from private equity firm LDC in 2016.
Established in 1979, Mitrefinch provides user-friendly, cutting-edge products across integrated time and attendance, payroll, HR and access control with sophisticated analytic capability. The company’s products help its 4,400 customers in over 80 countries to increase productivity, profitability and manage their workforce effectively, solving the complexities of managing time. Mitrefinch has customers across all industries, including manufacturing, transportation, retail and construction.
Advanced is the UK’s third largest provider of business software and services with 19,000+ customers and 2,400+ employees. The firm provides enterprise and market-focused solutions that allow its customers to reimagine what is possible, innovate in their sectors and improve the lives of millions of people in the UK. This latest deal boosts Advanced’s market share in HCM and further strengthens its offering with Cloud HR at its core by offering a complete digital HR lifecycle from recruitment to retirement and full management of the employee journey, while further supporting the company’s ambition to become the number one provider of business software solutions in the UK and broadening its global reach. Mitrefinch is Advanced’s second acquisition of 2020 following the acquisition of Tikit, a global legal, accounting and professional services software business, in March.
Gordon Wilson, CEO of Advanced, commented: “The innovative workforce management solutions developed by Mitrefinch are an exceptional fit with our existing best of breed Cloud HR solution. We’ve seen the impact of Covid-19 change the future of workforce management and shifting workforce expectations, leaving companies facing uncertainties with regards to resourcing and staffing. Digital technology provides accuracy of data to enable rapid decision-making in shifting market conditions which is a vital tool for companies managing shift patterns and measuring critical output.”
Matt Jenkins, CEO of Mitrefinch, added: “Mitrefinch has a strong reputation for developing transformative products that help companies solve the complexities of managing time. Our solutions will integrate with Advanced’s Financial Management Systems as well as their full suite of HCM solutions, enabling businesses to accelerate technology adoption. Covid-19 has resulted in a positive shift in digital disruption in the HCM sector and we’re excited to be part of Advanced’s journey in disrupting the market further.”