Growth plans continue at pace with third acquisition in nine months for Horizon Capital backed business

TopSource Worldwide has acquired Compandben, one of the first global Employer of Record (EOR) and multi-country payroll (MCP) businesses.  This is the third acquisition in nine months for the Horizon Capital backed employer services, payroll and EOR provider.

Compandben was founded in Switzerland in 2001 and is one of the longest established international providers of employment solutions including global HR support, global payroll and Employer of Record services to over 80 clients across 89 countries, including a range of US universities, NGOs and ambitious global businesses.

The combination of the businesses will support TopSource Worldwide in its strategy to become the leading global EOR and MCP business. Guil Hastings, CEO, commented:

“I am excited to be joining forces with one of the most established businesses in our space.  Compandben has grown over 20 years to be a well-respected leader in supporting the growth ambitions of organisations worldwide.”

He continued, “Whilst we increase our breadth of geographic coverage, we are also increasing our payroll and EOR capabilities.  We anticipate service to Compandben clients to be positively transformed by our ‘PEO Hub’ and workflow software.”

John Tinsley, founder and CEO at Compandben said:

“I’ve known Guil for many years and kept a keen eye on TopSource Worldwide, watching the business go from strength to strength. The company has a great team and a respected reputation in the marketplace.  When the opportunity arose, it seemed like a great fit for both our Compandben customers and team.”

Tom Maizels, Director at Horizon Capital added: “Compandben brings deep experience and expertise in the group and the combination of the two businesses is an important step in our journey to create the leading global employer services business with truly international payroll, EOR and MCP coverage. We look forward to continuing our support of TopSource Worldwide’s organic growth and M&A strategies.

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Published On: September 30th, 2021Last Updated: March 10th, 2022

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About the Author: Paul Sleath

Paul is responsible for global marketing and communications including brand, advertising, digital marketing, and demand generation. Paul has a wealth of experience previously co-founding PEO Worldwide and was also the former managing director of CPM People/Stipenda.