TopSource Worldwide, the leading employer services, payroll and Employer of Record provider, has today announced the acquisition of Select Payroll Solutions. This is the second acquisition since being backed by Horizon Capital in December 2020.

Following significant investment in central support services, go-to-market strategies and accelerated local and global organic growth TopSource Worldwide has created a strong platform to support its well-defined acquisition strategy in domestic payroll, global payroll and global EOR.

Guil Hastings, CEO of TopSource Worldwide, commented:

“I am delighted to welcome Select Payroll’s 100 plus customers and employees 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 ancillary services and are looking forward to building on the Select Payroll team’s great work.

We understand how important it is to ensure continued, high quality service delivery and we will be working hard as a newly combined team to make sure there is a smooth and clear transition plan and integration for customers, clients and colleagues as Select Payroll joins TopSource Worldwide.”

Dawn Wade, Director of Select Payroll Solutions commented:

“Having built Select from the ground up, starting in 2008, I’m really proud of what we have achieved over the last 13 years.  Delivering a great service for our customers has always been our priority, and I’m really pleased we’ve found the right home for Select to continue to grow and fulfil this ambition.  TopSource Worldwide shares our commitment to customer service and driving higher standards for our industry, and I’m really excited by the opportunities ahead for Select employees, customers and clients, as they benefit from TopSource Worldwide’s investment in payroll delivery and extensive in-house expertise.”

Horizon Capital has a majority investment in TopSource Worldwide and is supporting the company’s plans to take advantage of the attractive market dynamics providing further capital to help accelerate an already strong organic growth and targeted add-on acquisitions in a fragmented space.

Thomas Maizels, Director at Horizon Capital, said: “We’re thrilled to have helped create a dynamic new employment solutions group, backing a highly talented team in a high-growth market. Now we’re looking forward to helping the group grow even faster and making further acquisitions to scale the business further.

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Published On: August 17th, 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.