This news was also featured in City News, Daily Business Now, International Business News, London News Desk, Tech News International and UK Business News.
The Reading corporate team at Broadfield has advised the shareholders of UTP Group Limited (“UTP”) on its sale to payment tech company myPOS.
Established in 2013 and based in Reading, UTP provides a comprehensive suite of payment services, including portable and countertop card machines, Tap-to-Pay and ecommerce solutions, and flexible funding options to more than 52,000 clients across the UK.
With over a decade of experience and backed by leading global private equity investor Advent, myPOS provides innovative and scalable payment solutions for SMEs. Its acquisition of UTP and strong direct sales force and established client base will drive further expansion in the UK market.
The Broadfield team was led by Partner Philip Weaver and Senior Associate Michelle Gorman.
Philip said:
“We are delighted to have advised the shareholders of Reading’s UTP Group on the sale to myPOS. Broadfield sits at the heart of the Reading tech community, advising businesses as they grow and on exit.”
Philip Weaver
Partner
Michael Ault, CEO at UTP said:
“Joining forces with myPOS is a great opportunity for UTP. Our team will have the chance to work with a leading fintech platform that’s well-positioned for future growth, backed by a growing European presence and a diverse suite of products. I am confident this partnership opens new opportunities for our robust sales team and our merchants, and I look forward to building on this momentum. I am enormously grateful to Philip and Michelle at Broadfield for their timely support, advice and guidance on this sale, and would have no hesitation in recommending the firm.”
Michael Ault
CEO at UTP
The acquisition of UTP follows myPOS’s recent acquisition of Toporder in France, further reinforcing the company’s position as a leading fintech provider trusted by SMEs across Europe. In the past year alone, myPOS has expanded its client base by 42%, reaching 250,000 businesses. The company’s turnover grew by 29% in 2024, reaching nearly 14 billion euros, with continued growth anticipated in 2025.
