M&A roundup: IRIS and SD Mayer expand

IRIS Software Group, an accounting and payroll software provider, has acquired Apex HCM, a cloud-based human capital management enterprise software developer. 

The acquisition expands IRIS's U.S. payroll products with HR technology for payroll service bureaus and CPA firms. With Apex, IRIS will provide payroll solutions for over 130,000 small and medium businesses and 1 million employees across North America. 

Apex was founded in 2008, and its software is used by over 250 professional services businesses and CPA firms across the U.S. to provide payroll services to over 40,000 small and medium enterprises. Its software enables firms to serve their SME clients with cloud-based recruitment, onboarding, benefits administration and time and attendance technology.  

"We are delighted to welcome Apex to the IRIS family," said IRIS CEO Elona Mortimer-Zhika in a statement Tuesday. "This acquisition continues our successful journey providing leading software to PSBs and CPA firms — a market which IRIS has been serving for decades in the U.K. and we are rapidly expanding in the Americas region." 

Financial terms were not disclosed, but IRIS said it experienced a strong year of growth across the Americas last year, recording 28% revenue growth. Recent acquisitions include AccountantsWorld, myPay Solutions, Conarc and Doc.It. 

SD Mayer & Associates, a San Francisco-based accounting, wealth management and business advisory firm has the addition of the tax practice of Seifer, Murken, Despina, James & Teichman, a taxation law firm also based in San Francisco. As part of the deal, SMDJT founder Douglas Murken and partner Randi Teichman will join SD Mayer's team to handle tax and probate law, trust administration, and business and real estate transactions.

Financial terms were not disclosed. "With the addition of the SMDJT tax team, we're expanding our service offerings to more clients and leveraging Doug's business and real estate expertise, as well as Randi's estate planning, trust and probate law experience," said SD Mayer tax partner Helen Johnson in a statement Tuesday. "Their team's commitment to delivering superior, personalized legal and tax services is a perfect complement to SDM's strong tax, wealth management and financial planning practices."

SMDJT was founded in 1979 and originally focused on tax planning, preparation and representation and has grown to provide a wide range of legal and tax advice and services to individual and business clients throughout the Bay Area. "I am truly excited about merging our tax practice into SD Mayer," said Murken in a statement. "Our clients now have access to an expanded range of high-quality, integrated tax and financial services."

"SD Mayer was founded on the core values of helping clients be successful in business and in life while investing in and serving the community," said SD Mayer managing partner Stephen D. Mayer in a statement. "This is a strategic move that furthers our Bay Area reach and impact. Doug and Randi share our culture and commitment to providing the most beneficial outcome for all clients. We're delighted to welcome them and their team to the SD Mayer family."

In 2021, SD Mayer added TNT Inc. CPAs, a firm in Redwood City, California.