London, 2nd September 2017 – UK lower mid-market investor, Tenzing, today announces its portfolio company, FMP Global, has acquired the international HR consultancy, MCN Associates.
FMP Global is a leading provider of international and domestic payroll management services. It manages the international payrolls of US and UK headquartered SMEs utilising an extensive network throughout 135 countries. FMP Global also provides domestic payroll management services to small and medium sized UK businesses, handling in excess of £1.8 bn in payments each year on behalf of its clients.
MCN Associates is a specialist provider of HR consultancy services for US businesses expanding overseas. The acquisition enables FMP Global to widen its service provision, offering all inclusive international HR services for a single monthly fee to an enlarged customer base.
Christian Hamilton, Co-Founder & Joint Managing Partner of Tenzing, commented: “FMP Global is enjoying good growth in a growing market and we are delighted to have been able to support them in their first acquisition. May, Nicky, Chris and the talented team at MCN Associates have built a successful, customer-centric business focused on international HR services. Customers from both companies will benefit from the complementary services provided.”
Justin Cottrell, CEO of FMP Global commented: “This strategic acquisition allows us to provide a full suite of HR services to SME’s and start-ups planning their first foray overseas. MCN shares our vision and is the perfect partner for the next stage of service development, to offer unlimited access to International HR specialists and the MCN Unite SaaS portal on an all-inclusive basis and for a single monthly fee. We are excited about investing into the MCN business, broadening our offering and continuing to drive service excellence for our clients and partners worldwide.”