Magma Corporate Finance advised the shareholders of AP Matching on the sale of their shares to software company Basware backed by Accel KKR. AP Matching provide Accounts Payable software automation solutions to streamline processing for AP departments.

The Magma team consisted of Mark Tuckwell and Chris Matthews as Lead Advisors with Andrew Wilson and Liam Meade providing tax advice to the sellers.

AP Matching director, Daniel Kimpton said “We’re thrilled to join forces with Basware and offer a comprehensive solution that will improve the entire invoice processing cycle for enterprises worldwide. The acquisition will supercharge our growth and enable us to provide unmatched value to our customers, as we combine our expertise in statement reconciliation with Basware’s AP automation capabilities. Together, we will empower CFOs with a powerful end-to-end technology solution that ensures accuracy and efficiency in financial recording.”

He continued “It has been a pleasure to work with the Magma team throughout this transaction. Their dedication to understanding our products and sector, coupled with their overall management of the transaction process, has allowed us to reach a positive conclusion for ourselves and the businesses as we embark on a new chapter as part of the Basware group. With cross border angles to the deal their advice from a tax and transaction viewpoint has been invaluable.”

Chris Matthews, Senior Corporate Finance Manager commented “The shareholders of AP Matching have created innovative solutions for AP departments across the globe, with this transaction allowing the business to grow as part of a larger group. With overseas considerations this has been a real team effort to get this deal over the line.”

Keith Gilbert and Sophie Welbourn of Keystone Law have provided legal advice to the majority sellers with Jonathan and Paul Abrams of GAD Legal providing legal advice for the minority interests.