Wed, 16 Jun 2021 | BUSINESS SALE
Outsourced payroll services company Online Payrolls has been acquired by the Payroll Software and Services Group (PSSG), a portfolio business of tech investment firm Tenzing. The takeover of the London and Bournemouth based business is the fourth add-on acquisition that PSSG has made with Tenzing’s backing in the past eight months.
Online Payrolls provides outsourced payroll solutions for UK customers. Post-acquisition, its customers will migrate to PSSG’s platform, which will provide them with greater visibility of their payroll services and allow them to benefit from an expanded suite of services.
Nick Clarke, managing director of Online Payrolls, and Gayle Hargie, the company’s operations director, will continue supporting the firm’s daily operations.
PSSG Executive Chairman Eric Dunmore said: "PSSG is tremendously excited to have made its fourth acquisition in 18 months. Online Payrolls complements our current service offering and will allow us to expand the payroll solutions we currently offer. The acquisition is in line with our plan to continue buying successful well-managed payroll business."
Tenzing founder Guy Gillon commented: "With the UK and international payroll markets structurally growing with international in double-digit growth, PSSG has a hugely exciting future ahead of it. The acquisition of Online Payrolls is an important step in PSSG’s expansion plans and customers of both companies will benefit from the complementary software and services provided."
Headquartered in Gateshead, software and outsourcing firm PSSG provides HR, business and payroll support for more than 1,000 clients globally. With investment from Tenzing supporting the firm’s long-term growth plan, PSSG is targeting further acquisitions.
Read more about private equity-backed M&A in these exclusive insights:
Carve-outs and bolt-ons surge as COVID prompts firms to refocus
How to pursue private equity backing for acquisitive growth
Find businesses for sale here.
If you are looking for an exit, we can help!
A specialist medical market research company that uses both quantitative and qualitative research techniques, alongside possessing an enviable respondent network.
RELOCATABLE
A successful architectural practice operating for over eight years. Offers a complete architectural solution, managing a variety of commercial projects and overseeing RIBA work stages 1 through to 7.
LEASEHOLD
The company specialises in the provision of reliable cleaning services, ensuring that standards of hygiene and cleanliness are maintained to an exceptionally high level.
LEASEHOLD
|
22
|
|
Oct
|
96,000 sq. ft. Aberdeen office block up for sale for £19.5m | COMMERCIAL PROPERTY
Real estate and investment manager APAM Ltd has put the 96,0...
|
21
|
|
Oct
|
Firm behind unfinished £45m Liverpool student accommodation project collapses | ADMINISTRATION
Mount Group Student NatEx Ltd, the company behind the £...
|
21
|
|
Oct
|
Food importer acquired out of administration after succumbing to COVID and Brexit | BUSINESS SALE
Hull-based dried fruit and nuts importer Hider Foods has bee...
Sign up to receive our acquisition alert emails to get your FREE guide
|
06
|
|
Aug
|
Tenzing generates 5.6x return with £75.5m Smoothwall sale | BUSINESS SALE
Tech investment firm Tenzing has sold Leeds-based educationa...
|
23
|
|
Jun
|
Tenzing-backed Smoothwall acquires EdTech monitoring firm | BUSINESS SALE
Smoothwall, a Leeds-based safeguarding tech firm backed by T...
|
06
|
|
Oct
|
MBO at cyber security firm backed by Tenzing | MBO/MBI
The private equity firm Tenzing has back a management buyout...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources