Payroll Select acquires Prokx Payroll Professionals

Payroll Select acquires Prokx Payroll Professionals

Payroll Select acquires Prokx Payroll Professionals. Marktlink supported the entire process.

Client

Payroll Select is one of the largest payroll specialists in the Netherlands. It offers a comprehensive range of human resource services to large and small organisations and intermediaries. Payroll Select is active throughout the Netherlands, in a variety of sectors including the call centre sector, the education sector, the hospitality industry and the intermediate market. The company is located in Zutphen, with a team of over 80 employees.

Prokx is a payroll company with a strong reputation in the hospitality industry. The acquisition of Prokx contributes to the aim of Payroll Select to enlarge its market share in both this specific industry and the SME market in general.

In 2016, due to this transaction, Payroll Select expects its turnover to grow to €175 million and to offer employment to over 12.500 workers on a daily basis in various sectors.

Objective

The payrolling market is showing a clear trend towards consolidation. For this reason Payroll Select aspires to realise extra growth through a buy-and-build strategy, in addition to substantial organic growth. The aim of owner/director Rick Simons is to expand to a turnover of €250 million in 2017. Earlier this year ABN Amro Participaties (participation fund of ABN Amro Bank) acquired a minority share in the business.

Marktlink’s role

Marktlink supported the entire process, from market assessment (creating the search profile, approaching suitable parties and conducting negotiations) to the transfer of the notarial deed. The necessary legal documentation was also drawn up by Marktlink.

Results

The activities of Prokx Payroll Professionals have been transferred to Payroll Select Nederland B.V.

Marktlink