News & Insights

The Forbes M+A Group Advises PayReel on its Partnership with Seaside Equity Partners 

by | Oct 6, 2022 | Business Services, Latest News & Announcements, Technology

Denver, Colo., October 6, 2022– The Forbes M+A Group (“Forbes”), is pleased to announce it has served as exclusive advisor to PayReel, LLC, a leading tech-enabled provider of human resource compliance, worker classification, and payrolling solutions, in its partnership with Seaside Equity Partners, a growth-oriented and operationally focused private equity firm based in San Diego, CA. 

PayReel provides a comprehensive human resources compliance platform to clients that depend on contingent workers as a critical factor of their day-to-day operations. Leveraging its proprietary, cloud-based technology platform, PayReel delivers a wide range of services including onboarding workers, identifying employment risks, ensuring regulatory compliance, and administering worker benefits. 

PayReel specifically focuses on building a digital independent contractor community that connects vendors, contractors, and internal resources to boost productivity and drive operational agility for their customers. The Company’s attention to detailed regulations and customer-first approach has allowed PayReel to become a trusted partner to a variety of Fortune 1000 organizations. PayReel’s customer centric strategy and disciplined focus on building great technology coupled with Seaside’s strategic resources will allow PayReel to achieve new heights while maintaining their tremendous culture and commitment to employees. 

“The Forbes team exceeded our expectations by recognizing the value that our proprietary platform offers to our Fortune 500 clientele; a platform that can be significantly grown.” said Heidi McLean, President/CEO at PayReel. “Forbes utilized their knowledge of capital investing in this industry and created a very competitive transaction process that drove remarkable results for PayReel.” 

Software platforms are transforming the way companies manage their human capital resources. Proprietary technology is fast becoming a game changer in a business function that has largely been managed using human resources which can be costly and inefficient. Companies offering these unique platforms, including PayReel, are poised to succeed as they are increasingly sought after in the marketplace. Understanding the evolving dynamics of investment activity in human capital management, along with identifying and motivating the right buyers, were critical to the successful outcome of this transaction. 

“Human Capital Management is an exciting sector and we’re seeing increased activity from investors interested in partnering with extraordinary companies offering unique, industry-first software solutions in the space.” said Garit Lawson, Managing Director at Forbes. “PayReel’s partnership with 

Seaside is evidence of this and we are thrilled with the outcome for Heidi and her team as they continue building on their success and driving the segment forward.” 

About PayReel 

PayReel is a leading tech-enabled provider of human resource compliance, worker classification, services, and payrolling solutions. The Company’s workforce suite allows clients to manage their contingent workforce and contractor payments quickly and confidently. PayReel was founded in 1995 and is based in Golden, CO. For additional information on PayReel, see www.payreel.com. 

About Seaside Equity Partners 

Seaside Equity Partners is a growth-oriented and operationally focused private equity firm based in San Diego, CA. The firm seeks to provide capital, resources and strategic support to leading mission critical services businesses that are headquartered in the Western United States. Seaside is currently investing out of a $160 million investment vehicle that closed in February 2021, which focuses on partnering with founder, family, and entrepreneur-owned businesses. For additional information on Seaside Equity Partners, see www.seasideequity.com. 

About The Forbes M+A Group 

The Forbes M+A Group, founded in 2004, with offices in Denver, CO, Salt Lake City, UT, and Nashville, TN, is an award-winning investment bank with expertise in mergers and acquisitions, raising capital, and financial restructuring within the middle market. Senior advisors at The Forbes M+A Group have 250+ years and $85+ billion of combined transaction experience across a wide variety of industries and around the globe. The Forbes M+A Group has been recognized as the M&A Firm of the Year for the past seven years and was named one of fastest-growing private companies in America by Inc. Magazine. For more information regarding this transaction, contact Garit Lawson at Garit.Lawson@ForbesMA.com