Paytronix Joins U.K.-Based Access Group
LOUGHBOROUGH, U.K., and NEWTON, Mass. — Business management software provider The Access Group entered an agreement to acquire Paytronix, provider of guest engagement solutions for restaurants and convenience stores.
The investment represents one of Access Group's most significant acquisitions in its history and is intended to expand its presence and grow its product offering in the United States, according to the company. The transaction will support the Paytronix team by helping to accelerate growth and expand the company's footprint worldwide.
Founded in 2001 by executive chairman Andrew Robbins and purchased by Boston-based Great Hill Partners in 2017, Paytronix's platform is deployed in more than 50,000 sites across 1,800 brands and has processed more than 40 billion consumer transactions. It boasts more than 500 partnerships with well-established names in the restaurant and convenience space, including Google, Apple Pay, Toast, Square, DoorDash and UberEats, with customers ranging from single operators to large multiunit enterprises.
Currently, the full Paytronix guest engagement platform includes numerous capabilities for online ordering, loyalty, omnichannel messaging, branded mobile apps, gift cards, third-party marketplace management and payments. The provider also utilizes transaction and customer account data to create targeted marketing campaigns intended to motivate increased interaction and spending throughout the customer journey.
[Read more: Improving the Customer Experience Through Online Ordering]
After closing, Paytronix will retain its name and plans to integrate its platform with a selection of Access products.
"We've had the privilege of working alongside Great Hill Partners to deliver our solutions and services to the innovative restaurant and convenience store brands that we proudly call clients," said Paytronix CEO Jeff Hindman. "The acquisition by The Access Group is the beginning of another stage in our growth, and I'm excited to say that from here, we're only going to build upon the service and capabilities that our clients know us for."
Financial Technology Partners acted as the exclusive financial advisor to Paytronix on the transaction, while Kirkland & Ellis served as legal counsel to Great Hill Partners. Razorhorse served as the financial advisor to Access, with Latham & Watkins acting as the company's legal advisor.
Further information on the deal was not disclosed.
Headquartered in the United Kingdom, The Access Group serves mid-market organizations in Europe, the United States and Asia Pacific. Its suite of products cover front-of-house and operations, as well as human resources, payroll, learning, staff scheduling, procurement, EPoS, property management and accounting.