Clearwater International advises Tenzing on its latest acquisition of three payroll businesses
Clearwater International has provided buy-side support to Tenzing to support the acquisition of Cintra, Trace Payroll Services (Trace) and UnaTerra Consulting Limited (UnaTerra), together the Payroll Software and 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 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.
Through the acquisition, Tenzing and its Entrepreneurs Panel will support PSSG in maximising its growth potential through product development, internationalisation, continued investment in sales and developing an acquisitions strategy. Previously, Clearwater International advised Ticketer, a portfolio company of Tenzing on its acquisition of FARA A/S.