Apax Funds to Sell Their Majority Stake in Paycor HCM, Inc. to Paychex, Inc. [Yahoo! Finance]
Paycor HCM, Inc. (PYCR)
Company Research
Source: Yahoo! Finance
that Paycor HCM, Inc. (Nasdaq: PYCR) ("Paycor"), a leading provider of human capital management ("HCM") software, has entered into a definitive agreement with Paychex, Inc. (Nasdaq: PAYX) ("Paychex") to be acquired in an all-cash transaction for per share, representing a total enterprise value of $4.1 billion . Funds advised by Apax, together with certain of their affiliates, currently own a majority of Paycor's outstanding common stock. The Apax Funds acquired a majority stake in Paycor in November 2018 for $1.3 billion and took the company public in July 2021 . Over the past six years, Apax has partnered closely with Paycor's leadership team in the transformation of the company – accelerating its top-line growth, expanding it into tier one cities across North America , and building a modern HCM platform for the mid-market. Jason Wright , Partner at Apax and Chair of Paycor's Board of Directors, said: "We could not be more proud of our partnership with Raul and the Paycor team. T
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