Keystone Law has advised the founder shareholders of AP Matching on the sale of their shares to Basware, a global software company backed by Accel KKR.

AP Matching is a provider of cloud-based solutions for managing invoices and reconciling statements to streamline processing for AP departments of clients across multiple sectors.

The multi-disciplinary team of Keystone lawyers was led by Corporate partner Keith Gilbert and included Corporate associate Sophie Welbourn, Tax partner Paul McCourt, Employment partner David Jepps, Commercial Property partner Simon Massey, Commercial solicitor Rupert Casey, Pensions solicitor Monica Ma, and trainee solicitor Mark Turner.

Founder shareholder Dan Kimpton commented:

“We’re thrilled to join forces with Basware and offer a comprehensive solution that will improve the entire invoice processing cycle for enterprises worldwide. The acquisition will supercharge our growth and enable us to provide unmatched value to our customers, as we combine our expertise in statement reconciliation with Basware’s AP automation capabilities.

“It has been an absolute pleasure to work with the Keystone team. We felt reassured and entirely confident in their support and guidance throughout the process.”

Keith Gilbert said:

“We were delighted to work alongside the AP Matching shareholders and wish them and the business all the success in the future.”

Magma Chartered Accountants provided lead advisory (Mark Tuckwell and Chris Matthews) and tax advice (Andrew Wilson and Liam Meade) for the founder shareholders.

Cozen O’Connor was US counsel for the founder shareholders, GAD Legal advised the minority shareholder, and Brodies LLP advised Basware.

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