Following completion, PAI will hold an equal and co-controlling stake in Azets alongside current owners Hg.
Azets was formed by Hg six years ago, in response to the growing digitalisation of financial compliance processes for SMEs. Since then, the Group has grown significantly to become one of the largest tech-enabled providers of professional advisory, financial and accounting services to SMEs globally.
Azets is now backed by two leading private equity investors: PAI, with its deep sector expertise in Business Services, and Hg, with its longstanding heritage in software and services investing. With this support, Azets is well placed to continue its successful growth strategy, deepening its presence in new and existing markets across Europe through a combination of organic growth and further strategic M&A.