One of the UK’s fastest-growing tech businesses has today (Thursday) announced the acquisitions of two firms – Doncaster-based People HR, and Cambridgeshire’s The Payroll Service Company.
The Access Group is among the country’s leading providers of software for mid-sized companies, and says the deals will enable it to serve an ‘even wider range of organisations’.
Access – which employs more than 2,000 people at 20 offices around the UK – says it is looking to capitalise on a rapidly-changing HR market to deliver solutions for organisations looking to improve employee attraction, management and engagement.
Its latest acquisitions are People HR, which has a client base of more than 5,000 companies using its solution to transform their organisations into social enterprises, and The Payroll Service Company (PSC), which is rated as one of the UK’s leading payroll solution providers as a result of its 45-year history and 1,300-strong client base.
Access Group CEO Chris Bayne said: “The addition of these two strategic acquisitions further enhances our presence in the HR and payroll solutions market, particularly in the small to medium market.
“With the UK experiencing a tightening of resource availability, we believe organisations will now more than ever require the capability to easily attract, retain, engage and re-train employees, as opportunities for growth and expansion present themselves.
“With the addition of the People HR and PSC products into the Access People Solutions suite, delivered on Access Workspace, we are extremely well positioned to take advantage of a market that is forecast to grow at a CAGR of 14% globally through to 2023.
“Together, we will have the strongest suite of HR and Payroll solutions in the market, for companies of all sizes.”
Senior figures at both People HR and PSC spoke warmly of the opportunities the deal will provide.
Manjit Sindhar, CEO and co-founder of People HR said: “All at People are excited about the opportunity this acquisition presents for our current and future customers.
“We have every confidence that Access is the right company to continue the great work we commenced in delivering our market-leading HR software over six years ago.”
And PSC Director Sherry Woolston added: “PSC was founded 45 years ago by Geoff and Jan Leadbeater now retired, and myself and my brother Guy Leadbeater as the current directors have strived to maintain that family approach to business that has proved so successful.
“When we met Chris and the team from Access we quickly recognised that they had a passion for the HR and payroll market just as we do and a business culture that will maintain that family feel. We are delighted for all our customers and staff to now be part of the Access Group.”
Access recently announced impressive yearly results, posting more than 40% growth in both revenues and EBITDA for 12 months to June 30.