Star Computers Limited / Iris Software Limited
Cavendish Corporate Finance is pleased to announce that it has advised the shareholders of Blayhall Payroll Ltd, the leading UK provider of payroll software that trades as Star Computers Limited (“Star”), on its sale to business-critical software and services company Iris Software (“Iris”).
Star was founded in 1973 by Jack Schumann and David Blechner and is globally recognised for its industry-leading software. It has built an enviable customer base including over 50% of the Top 100 accountancy firms, payroll bureaux, commercial entities, financial institutions, public sector and not-for-profit bodies and education organisations. Currently, Star supports the payroll for over 70,000 employers and 750,000 employees, primarily in the UK.
Iris is the UK’s market leading provider of business critical software and services to the UK accountancy and payroll sectors. Iris Software recently acquired Contact Group, a leading provider of parental engagement and truancy management software to UK schools, extending its product offering and ability to deliver efficiency across the UK.
The deal will better enable Star to serve the needs of a fast growing and dynamic UK market.
Joe Stelzer, Managing Partner at Cavendish Corporate Finance who led the transaction, commented:
“We are delighted to have produced an outstanding result for Blayhall’s shareholders. Star is a first class business that dominates its segment through delivering outstanding technology and customer service. The company was immediately attractive to Iris as a complement to their existing business operations.”
We greatly enjoyed working with Cavendish who immediately understood our objectives for the sale of the business and provided us with sound advice throughout the whole process. In IRIS, Cavendish identified a firm that can develop Star’s market-leading software and integrate it into its current, extensive offering to top UK accountancy firms, financial institutions, businesses and public sector bodies. We are confident that the business will flourish under its new ownership.
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