Private equity firm BGF has invested in hospitality-focused Paperchase Accountancy to support its international growth.
Financial specifics of the transaction were not shared, other than the fact that it is a “minority growth investment”.
The capital infusion is aimed at bolstering the company’s global outreach and enhancing its financial management services for the hospitality sector.
Set up more than three decades ago in London, Paperchase is a financial partner for the hospitality industry, serving an array of clients that include Michelin-starred restaurants and “high-profile” establishments.
The company’s presence spans across Europe, America, the Middle East, Africa, and Asia, supporting more than 3,000 hospitality sites with a workforce of more than 1,200.
The investment from BGF will enable Paperchase to leverage advanced technology and data-powered insights to provide more value to its clients.
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By GlobalDataFunctionalities, including real-time financial reporting, are projected to enhance Paperchase’s accounting offerings tailored for restaurants.
These advancements are expected to not only serve the existing client base but also streamline the onboarding process for new businesses joining the company’s portfolio.
Paperchase Accountancy CEO Nish Patel said: “We are thrilled to partner with BGF, whose investment will accelerate our growth plans and continue to deliver exceptional services to our clients worldwide.
“This investment is a huge vote of confidence in our vision and will enable us to accelerate our growth and extend our reach, bringing our innovative financial solutions to even more global markets.”
BGF Investor Zahir Kasmani said: “Paperchase is a clear leader in its field, with a strong reputation for providing innovative and tailored solutions to its clients. We’re excited to support Nish and his talented team, as they enter the next phase of growth.
“Hospitality is a vital sector, and with Paperchase’s proven track record and deep industry expertise, the company is well-positioned to scale even further. We look forward to playing a key role in their ongoing success story.”
