Workr Group, a leading international provider of employment, payroll and accountancy services to engagers of temporary workers, has acquired the contractor book of PayCo Services. PayCo Services, also an established and respected provider of employment, payroll and accounting services, was founded in 2005 and maintains an excellent reputation with its contractors and agency clients. Two of the existing PayCo Services staff transferred across to support the existing Workr Group team managing the increased volume in contractor and agency relationships.
Matt Tyson, Group CEO at Workr Group, said the move was a significant boost to three of the group’s areas of expertise; umbrella, self-employed and international. “We have known and admired the team at PayCo Services for some time,” said Tyson. “The move is aligned to our strategy to grow our existing service lines both organically and through acquisition.
“Our initial focus has been on providing a smooth transition and personalised service to the contractors and demonstrating the added value and enhanced benefits they now receive,” he added. “At the same time we have been talking to our new agency partners. Our additional breadth of service offerings has really resonated as has our FCSA and APSCo accreditations and the increased security and compliance this affords them”
Workr Group were represented by Fieldfisher LLP and supported by Beever and Struthers for financial and tax due diligence. Terms of the deal have not been disclosed.