LONDON, UK – [16 June 2026] CapEQ, the Certified B Corporation M&A advisory firm, has advised the shareholders of PayCaptain on the sale of the business to The Citation Group, an international provider of compliance software and services for SMEs. Freeths LLP acted as legal advisor to the shareholders. Financial terms have not been disclosed.
PayCaptain, founded by Simon Bocca in 2020, is the UK's first B Corp certified payroll provider. The business combines an AI-enabled payroll platform with a fully managed service delivered by CIPP-qualified specialists, and is trusted by hundreds of UK employers including Roadchef, TGI Fridays, Dishoom, NEOM, Charlie Bigham's and Monica Vinader. Recent performance includes a near-doubling of year-on-year revenue and a 98% customer retention rate.
The transaction is the second payroll acquisition by The Citation Group in 12 months, following its 2025 acquisition of Australian payroll software provider foundU, and adds payroll to its UK compliance suite spanning HR, Employment Law, Health & Safety, Workforce Management, ISO accreditation, Cybersecurity, eLearning and Employee Screening. The Citation Group supports more than 120,000 businesses across the UK, Canada and Australia.
James Pugh, Partner at CapEQ and lead advisor to the PayCaptain shareholders, said: "Simon and the PayCaptain team have built a category-defining payroll business — one that pairs genuinely differentiated technology with a deep commitment to employee financial wellbeing.
“The Citation Group is the right home for that mission, and the strategic fit is clear: payroll is the natural extension of Citation's compliance platform, and PayCaptain brings the software, the expertise, and the values to lead it.
“CapEQ, PayCaptain and Freeths are all Certified B Corporations, and it has been a privilege to advise on a transaction where commercial ambition and purpose are so closely aligned."
PayCaptain's platform allows employees to see their earnings accrue in real time, access fee-free emergency pay advances, set up salary savings, and understand their pay in plain language. Embedded AI features — an in-app assistant, custom analytics and intelligent reporting — reduce administrative burden for employers while supporting workforce financial wellbeing.
Over the coming months, PayCaptain's capabilities will be progressively integrated into Citation's HR and Workforce Management software, unifying payroll with the wider compliance platform. PayCaptain will continue to be offered either as a standalone software solution or with a managed service.
PayCaptain will operate as a dedicated Payroll Division within The Citation Group. Founder Simon Bocca remains as Managing Director, and existing PayCaptain clients will see no change to their service, platform or support.
Simon Bocca, Founder of PayCaptain, said: "The Citation Group is the right home for PayCaptain. They have built an organisation that genuinely cares about the businesses it serves — and that mirrors our own mission to be the UK's most trusted way to get paid and to help employers make a real difference to their employees' financial wellbeing. Being part of the Group gives PayCaptain the scale, the distribution, and the platform to pursue that mission at a pace we could not have achieved independently."
Chris Morris, CEO of The Citation Group, said: "Payroll is the one thing our clients ask us about more than any other, and now we have the perfect product. Simon and the team have built something exceptional, and we are proud to have them in the Group."
About CapEQ
CapEQ is a UK lower mid-market M&A advisory firm specialising in exits, acquisitions and capital raises for founder-led independent businesses. Founded in 2020 by James Pugh and Mark Sapsford, CapEQ is Europe's first Certified B Corporation M&A firm, combining financial rigour with the emotional intelligence required to guide founders through transactions aligned with their values and legacy. Website: www.capeq.com
About PayCaptain
PayCaptain is an award-winning payroll software and managed services business and the UK's first B Corp certified payroll provider. The company has been recognised by the Global Payroll Association Judges Award (June 2026) and through multiple Chartered Institute of Payroll Professionals (CIPP) awards over the past four years. Website: www.paycaptain.com
About The Citation Group
The Citation Group is an international compliance platform for SMEs, combining advisory services with software across HR, Employment Law, Health & Safety, Food Safety, Workforce Management, eLearning, Cybersecurity, ISO accreditation, SSIP Accreditation and Employee Screening. The Group supports over 120,000 businesses across the UK, Canada and Australia. Website: www.thecitationgroup.com
About Freeths LLP
Freeths LLP is a UK national law firm and a Certified B Corporation, advising founders and growth businesses on corporate transactions across the mid-market. Website: www.freeths.co.uk