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PSSG

PSSG

Background to the business

In December 2019, Tenzing invested in Cintra, Trace Payroll Services and UnaTerra to create the Payroll Software & Services Group (PSSG).

With almost 80 years’ experience in the space, the Group provides software and outsourcing solutions for HR and Payroll in the UK and international markets.

PSSG’s mission-critical services allow businesses to get the best from their people. Over 1,000 global clients rely on the PSSG’s solutions to make sure their employees get paid on time. Its technology powers over £2.5 billion salary payments a year and clients include global brands, Hiscox, Gant and HermanMiller.

 

Investment highlights

Tenzing has backed the incumbent management teams, and appointed Eric Dunmore as Executive Chairperson at Group-level.

Eric is an experienced PE-backed CEO who has 15 years of exposure to the payroll sector and 17 years’ experience in professional services. The incumbent management teams will continue to run the divisional businesses day-to-day.

Tenzing and its Entrepreneurs Panel will support PSSG with product development, internationalisation, continued investment in sales and developing an acquisitions strategy.

Value

N/D

Status

Live

Company Website

thepssg.com

Date of investment

December 2019

Sector

Business Services, Payroll Services

Location

Newcastle, London, Bristol, UK.

KPIs

20% revenue growth in recent years, >1,000 global clients

Date

September 23, 2020

Category

Business Services, Growth Capital, Live, Payroll Services