Sell-side advisory of selling the Russian subsidiary
Advised UCMS Group in its sale of a subsidiary to 1C Company
Advised UCMS Group, a payroll, HR and accounting firm, in its sale of a subsidiary to 1C Company, a Moscow-based developer and distributor of mass market software. UCMS Group is a leading payroll and accounting service provider in Central and Eastern Europe with offices in Hungary, Poland, Romania, Russia and Ukraine, and a subcontractor network throughout Europe.
UCMS has been the long-term regional service provider of choice for many blue-chip multinationals and local companies, working with many of them for over 10 years in multiple markets. UCMS Group was founded by entrepreneurs and its regional expansion strategy was financed by PE funds, including Mint Capital. 1C Group is a Russian IT provider.
The Russian UCMS team will aid 1C's development of HR, payroll and accouting services. Ed Walsh, President of HW Temps, said "“HW has been experiencing tremendous growth and it was time for us to secure an equity partner to help us more aggressively attack the market opportunity."
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