Moorcrofts advises XCD on multi-million pound investment in the Company
Moorcrofts corporate team has advised XCD HR Limited (“XCD”) on a c.£2m investment in Bristol-based XCD, the provider of the UK’s only HR and Net Payroll solution on the Salesforce platform.
Founded around 10 years ago, XCD’s HR & Payroll platform is now an industry-leading solution and has over 30,000 users internationally and with clients across the private, public and not-for-profit sectors and a variety of industries.
The investment comes from the Business Growth Fund (“BGF”), a renowned investment group. BGF’s investment will support XCD’s growth plans and strengthen XCD’s sales and marketing capacity. The investment is the next step in XCD’s development, which has grown from strength-to-strength since its incorporation in 2010 and having previously received investment from serial tech investor and entrepreneur, Vin Murria.
Moorcrofts’ corporate partner Will Pearce led the transaction with support from corporate solicitor Mohsin Shabbir.
XCD HR Limited, CEO Simon Fowler, said:
“We are very pleased to have completed this investment. This really is an exciting time for XCD and taking on an investor with BGF’s reputation reassures us that we are on the right trajectory as well as giving us encouragement to continue with our future plans”.
Will Pearce, said:
“We were delighted to assist Simon and his team with the investment. We know that XCD have ambitious expansion plans and the investment provides XCD with a platform to press on. We wish Simon and his team the best for the future and look forward to the next project”.
Randall & Payne LLP provided accountancy advice for XCD. BGF was advised by Field Seymour Parkes.
For more information on private equity investments, please contact Moorcrofts corporate team.