Today, we’re pleased to announce that our portfolio company, The Payroll Software and Services Group (PSSG), has acquired outsourced payroll services firm Just Payroll Services.
Over 1,000 global clients rely on PSSG’s solutions to make sure their employees get paid on time, and its technology powers over £3.1 billion salary payments a year. The acquisition is part of the Group’s strategy to increase its value to customers through additional products and services.
Just Payroll Services, which offers a complete outsourced payroll solution for UK businesses, will sit in the PSSG portfolio. Its customers will migrate onto PSSG’s technology platform, giving them greater visibility over their payroll, improving efficiency and increasing productivity.
Karen Healy, MD at Just Payroll Services, will continue to support the business day-to-day.
Eric Dunmore, CEO of PSSG, said: “I’m delighted to have completed our fifth acquisition in the last two years, and the second in the previous six months. Just Payroll Services adds more valuable skills and loyal clients to our portfolio, and we are very excited to welcome a further 16 colleagues to the Group.”
Christian Hamilton, Co-Founder and Managing Partner of Tenzing, commented: “As more and more businesses choose to outsource their payroll, PSSG’s mission-critical solution becomes even more important. The Group has expanded quickly since we backed it in 2019 and has a hugely exciting future ahead of it. We’re thrilled to have supported the team in completing its latest acquisition, cementing PSSG’s position in the fast-growing HR and payroll market.”
This is the eighth acquisition Tenzing has supported our portfolio companies with in the last twelve months. The CitNOW Group expanded across the automotive software value chain and solidified its position in the US through three acquisitions, Smoothwall acquired eSafe, PSSG continued to scale with the addition of Online Payrolls, and CTS acquired Sprout IT and CBS to form a legal sector powerhouse.