TopSource Worldwide, the leading employer services, payroll and Employer of Record service provider, has today announced the acquisition of Capital Payroll Services, a fully-managed payroll service provider to the UK market.

This is the fifth acquisition since TopSource Worldwide received investment from Horizon Capital in December 2020, and the second in the UK Payroll space in 9 months.

Based in central Scotland, Capital Payroll Services further strengthens TopSource Worldwide’s already established payroll services offering, adding scalability and an increased presence in Scotland.

Guil Hastings, CEO, TopSource Worldwide commented:

“I am excited to welcome Capital Payroll Services to the TopSource Worldwide group. TopSource Worldwide continues to grow as an experienced and trusted payroll and Employer of Record provider, with our customers at the heart of what we do. We are committed to delivering the very best in payroll and employer services and are looking forward to building on the Capital Payroll Services team’s great work, particularly with their established footprint in Scotland.

We understand how important it is to ensure continued, high-quality delivery and will ensure clients continue to receive great service.”

Suzie Paton, Co-Founder, Capital Payroll Services added:

“Having founded Capital Payroll in 2010 and grown it into an established payroll bureau in Scotland, I am happy to have found a new partner for the business that shares my belief in delivering exceptional customer service and maintaining long-term relationships. I am extremely confident that our customers and staff will benefit from being part of the TopSource Worldwide group”

Tom Maizels, Director at Horizon Capital said:

“We are delighted that Capital Payroll Services is the latest business to become part of TopSource Worldwide. This acquisition – the fifth by TopSource Worldwide – gives us a local presence in Scotland to expand our domestic footprint.  Our commitment to acquiring well managed businesses to complement TopSource Worldwide’s existing platform enables us to scale the business into a market leader.”

About TopSource Worldwide

TopSource Worldwide provides a complete suite of employer services that allows clients to employ and pay people promptly, consistently and compliantly, locally and internationally as it suits their business needs.

TopSource Worldwide is backed by Horizon Capital and has an international footprint and the far-reaching expertise needed to truly support clients with their local payroll, global Employer of Record or global payroll needs.

Payroll anywhere. Employ everywhere.

For more information, please visit – www.topsourceworldwide.com

About Capital Payroll Services (“CPS”)

Capital Payroll Services specialises in providing a fully managed payroll service to large and small businesses throughout the UK. Based in Central Scotland, its clients benefit from a payroll service provision that ensures their business needs are not just met – but exceeded. From small sole-traders requiring a minimum amount of payroll services, to large national organisations that demand full payroll management, CPS will develop a payroll process that meets client needs no matter what they are, or how complex.

CPS works in partnership with its clients to develop an understanding of their payroll needs and requirements. CPS knows that no two businesses are the same and therefore the service offered is tailored to meet expectations. CPS works to strict quality systems whether that be for payroll, auto-enrolment or CIS needs, and part of this is to provide a customer charter which is fully tailored to each client’s business and is updated and reviewed in line with client objectives.

CPS’s payroll has been designed not only to process employees pay, but as a powerful management reporting tool, working with clients to ensure they have the correct management information in the format required to add real value to their businesses.

For more information, please visit – www.capitalpayroll.co.uk

About Horizon Capital

Horizon Capital is a private equity investor specialising in technology and business services. The firm was established by senior investment professionals who identified a significant market opportunity to invest in businesses in these sectors valued up to £50m.

The partnership prides itself on its approach to helping business owners and managers realise their ambitions. Buy and build is at the heart of every Horizon Capital investment and the firm is a market leader in supporting companies pursuing this strategy.

Horizon Capital has a proven track record in generating premium returns on investments. The unprecedented growth it delivers in its portfolio companies has been underpinned by deep and long-term investor relationships that span across two decades.

For more information, please visit – www.horizoncapital.co.uk

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Published On: 06/06/22Last Updated: 14/09/22

About the Author: Guil Hastings

Guil leads the Management Team and has overall responsibility for developing and delivering the strategy for the business as well as the operational delivery of our growth plan – both organic and through acquisition. Guil has extensive business leadership and commercial experience in domestic and international payroll. Email: guil.hastings@topsourceworldwide.com

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