News
LDC-backed CIPHR completes acquisition of Payroll Business Solutions
16 Dec 2019
Leading HR software provider CIPHR has today completed the acquisition of its long-term strategic software and services partner, Payroll Business Solutions (PBS), in a deal that will double the number of customers it can reach through its integrated services.
CIPHR and PBS have worked together for more than 10 years and already have more than 50 joint customers that benefit from integrated HR and payroll systems, including household names such as bed manufacturer Dreams, delivery service CitySprint and property company ZPG. As a result of this acquisition, the Marlow-based business is announcing two new solutions to its market-leading services: CIPHR Payroll and CIPHR Outsourced Payroll. Both new products will better support customers in improving the accuracy and speed of payroll.
CIPHR was backed by leading mid-market private equity firm LDC in May 2016 to further develop its software-as-a-service (SaaS) offering and expand its product range, as well as to support its management team to identify potential strategic acquisitions.
We’re absolutely delighted that PBS is now part of the CIPHR Group. Not only can we now offer integrated HR, recruitment, learning and payroll solutions all from a single supplier, but we’re doing so with the support and expertise of one of the most professional payroll teams in the UK.”
Chris Baker, Investment Director at LDC in Reading, added: “CIPHR’s acquisition of PBS further establishes the businesses as the go-to SaaS provider for market leading, easy-to-use and comprehensive HR software solutions. We are continuing to back and work closely with Chris Berry and his management team to capitalise on opportunities which help CIPHR build on its leading position and extend its range of services.”