London, 29th January 2020 – UK lower mid-market investor, Tenzing, today announces its investment in activpayroll.
Founded in 2001 by CEO Alison Sellar OBE, activpayroll, is a leading global payroll specialist providing customers with international payroll, payment services, global mobility and HR support in over 140 countries.
The business provides a highly differentiated service supporting customers globally from 11 activpayroll operational hubs, as well as through its trusted network of in-country partners.
Technology is at the forefront of the service delivery which is supported by activpayroll’s cutting edge proprietary software platform, activ8. The business has invested significantly in technological advancements utilising Robotic Processing Automation as well as leading integration methodologies.
Customers typically have multi-country requirements with headcounts ranging between 50 to 5,000 employees and are from a vast range of business sectors. In recent years activpayroll has achieved exciting growth of c. 20% in combination with expanding its geographical footprint and service offering.
Tenzing has backed the incumbent senior management team, led by Founder CEO Alison Sellar and COO Euan Sellar. Tenzing’s investment, its team and its Entrepreneurs Panel will support the company with continued technical product development, investment in sales and developing its acquisition and international strategy, to ensure the business continues to expand and remains at the forefront of the global payroll market.
Guy Gillon, Managing Partner of Tenzing commented: “We’re absolutely delighted to have backed Alison, Euan and their whole team to take activpayroll on the journey to becoming the undisputed market leader in international payroll. We are as excited as the activpayroll team about the next stage of their impressive journey and share their significant ambitions for the business. We are very much looking forward to supporting the team at this exciting time.”
Alison Sellar, Founder & CEO of activpayroll, commented: “Over recent years activpayroll has expanded significantly whilst maintaining an extremely high level of customer satisfaction and this must be attributed to the activpayroll team. We look forward to working in close cooperation with the Tenzing team and accessing their growth eco-system to continue the exciting activpayroll journey.”
Tenzing was advised on the investment by Alantra Corporate Finance, PwC, Osborne Clarke, Intuitus, & Continuum. activpayroll was advised by PwC Corporate Finance and addleshawgoddard.
This growth investment underlines Tenzing’s commitment to supporting high growth independent market leaders and backing high energy, driven management teams and Founders to accelerate their growth in the UK and internationally.