Today, European tech investor Tenzing announced that its portfolio company, The Payroll Software and Services Group (PSSG), has acquired Essential Payroll, an outsourced payroll business based in Bournemouth.
Since its formation in 2019, the Group, which specialises in providing software and outsourcing solutions for HR, payroll and business support in the UK and international markets, has successfully acquired a portfolio of ten brands. Together, they provide a comprehensive, streamlined service that meets all payroll, HR, and business support requirements.
The acquisition of Essential Payroll will further enhance PSSG’s product offering, enabling it to broaden its outsourced services and cater to a wider market.
Eric Dunmore, CEO of PSSG, expressed his excitement about the acquisition: “The PSSG has achieved an incredible milestone this month, having made its tenth acquisition. This is a tremendously exciting time for the Group as we continue to expand our customer base, and we are delighted to welcome three more Essential Payroll colleagues to the team.”
Milan Kellner, Investment Lead at Tenzing, added: “PSSG has gained a huge amount of sector knowledge over the last three years and has become an expert at acquiring and integrating companies with a highly complementary offering. The Group has created a platform to service all types of businesses and is well on the way to achieving its ambition of widening the products and services it offers to its global client base.”
Tenzing provided a dedicated Acquisitions Director to assist PSSG with the acquisition.