Asure buys southeastern payroll firm for $26.5M, lands $115M credit line
What's the deal? Asure SoftwareDealroom has a profile for this one. Try Dealroom → has acquired a payroll processing business in the southeastern US for $26.5 million, the company said. The deal closed on October 15, 2026, alongside a new senior credit facility of up to $115 million.
The terms: Asure paid $13.5 million in cash, a $3 million promissory note maturing in 2028, and $10 million in newly issued common shares valued at $8.29 each. The price may be subject to adjustments.
Who's who? Asure provides payroll and human capital management software and services for businesses. The target is a payroll processing business located mainly in the southeastern US.
Why now? The acquisition deepens Asure's presence in regional payroll markets. It fits a strategy of combining debt and equity to fund growth-focused deals.
The financing: The $115 million facility, arranged by MUFG BankDealroom has a profile for this one. Try Dealroom →, comprises an $85 million term loan drawn at closing, a $10 million revolving credit line, and a $20 million delayed-draw term loan. It carries a Term SOFR-based rate initially set at 7.04249% and is secured by substantially all company assets.
What's it for? Asure is using the facility to refinance existing debt, cover transaction fees, and fund permitted acquisitions. The arrangement includes leverage and coverage covenants.
What could go wrong? The company carries continued GAAP losses and rising leverage against earlier years. The new facility adds debt that must be serviced as Asure integrates the acquired assets.
The signal: Asure is building scale in a fragmented regional payroll market through bolt-on deals. Pairing a fresh credit line with an acquisition shows it intends to keep buying — financed by a mix of cash, notes, and stock.
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