Bristol-based Shaw & Co has provided corporate finance advice to the shareholders of MyWorkpapers, a digital working papers solution for accountants and auditors, on its acquisition by Bright, a leading tax, accounting, finance and payroll software company.

With offices in the UK and Australia, MyWorkpapers initially launched in 2009 as a flagship auditing application and has evolved into a full suite of specialised workpaper packs for all types of engagements undertaken by accountancy firms. Its award-winning software is designed to improve work efficiency and collaboration while ensuring compliance and workflow production.  

Since forming in 2021, Bright has established a suite of industry-leading software solutions for accountants, bookkeepers, SMEs and payroll bureaus across the UK and Ireland. The deal will bring together the technological might of the two brands as they work towards creating a more integrated suite of accounting software that is able to deliver an end-to-end service to their clients in a highly efficient and compliant manner.  

Jim Shaw, CEO & Founder, Shaw & Co, said: “This is an extremely important deal for the sector and the perfect outcome for all stakeholders. The combination and further integration of Bright and MyWorkpapers will quickly benefit all users by enhancing their digital workflow platform.”

Shaw & Co has concluded a number of transactions in the software sector including the sale of invoice-to-cash software experts Data Interconnect to US-based Blackline; the sale of GoProposal to global software business Sage; the sale of Senta to Iris Software; and the sale of The Safeguarding Company to TES (Times Educational Supplement).

Rich Neal, Chief Executive Officer of MyWorkpapers, said: “Shaw & Co have been extremely supportive in our acquisition by Bright and have helped us to deliver a deal that looks set to offer a wide range of benefits to our mutual clients and the wider accountancy market.

“By joining forces with Bright we are expanding and enhancing our integrated, cloud-native accounting solution to cater to all types of engagements. This new partnership strengthens our core capabilities, significantly enhancing the daily operations of accounting firms in the UK and Ireland.

“We believe that this synergy will offer our customers a broader selection of software solutions – empowering them to deliver enhanced value to their own clients.”