Apr 2023 | Canada

Canadian Payroll Services Acquired By Vensure Employer Solutions

We are pleased to share the sale of our client Canadian Payroll Services, Inc. (CPS) to Vensure Employer Solutions. The acquisition closed on April 13, 2023.

Founded in 2014, CPS is a trusted partner for international businesses seeking to navigate the complexities of hiring and managing talent in Canada. Their seasoned team brings unparalleled expertise, empowering businesses of all sizes to seamlessly expand their operations into Canada without the complexities of establishing a local entity.

Vensure Employer Solutions is the largest privately held organization in the HR technology and service sector, providing a comprehensive portfolio of solutions, including HR/HCM technology, managed services, and global business process outsourcing (BPO).

The company and its service providers collectively serve over 95,000 businesses and process over $135B in annual payroll. As a “One Employer Solution” headquartered in Chandler, Arizona, Vensure helps thousands of businesses streamline and grow their operations with customized strategies that benefit both employers and employees.

The acquisition furthers Vensure’s existing focus on serving the Canadian market and marks another milestone in the company’s ongoing expansion into the global business market. Through Vensure, CPS will strengthen its employer of record (EOR) services and contract payroll and benefit offerings, while continuing to deliver a high level of employee administration support and attention to its customer base.

“The acquisition of CPS further solidifies our presence in the Canadian market,” said Alex Campos, CEO of Vensure Employer Solutions. “By combining the strengths of both companies, we are better positioned to serve in the Canadian market in more meaningful ways than each could individually.”

“Our clients will experience minimal operational changes, but will enjoy the added benefit of accessing Vensure’s broad range of valuable products and services,” said Afifa Siddiqui, Founder & CEO of Canadian Payroll Services.

She added, “Businesses have depended on us to maintain compliance with HR-related regulatory requirements and have access to the necessary tools to support these areas. By joining Vensure, we are continuing to fulfill our commitment to continuously enhancing our clients’ experience.”

Since 2004, Vensure Employer Solutions has been a premier provider of HR services and technology for small and medium-sized businesses, maintaining a leading position in the industry. The company continues to expand its global reach through strategic acquisitions and partnerships. Its presence in Canada marks a significant step in expanding its expertise and proven track record to businesses across North America.

Generational Equity Executive Managing Director, M&A-Technology Practice Leader, David Fergusson, and his team, led by Sr. Managing Director, M&A, Mike Hammer, with the support of Managing Director, M&A, Corey Painter, successfully closed the transaction. Executive Managing Director and Group Leader Randy Kamin established the initial relationship with CPS.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Business & Financial Services page.

If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Industrials page.

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