Tenzing consults with Continuum to create PSSG
UK lower mid-market investor, Tenzing, announced its growth investment in Cintra, Trace Payroll Services and UnaTerra, together the Payroll Software & 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.
The UK and international payroll markets are growing at respective rates of c.4% and c.15% annually. 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.
As part of the consolidation of the three businesses, Eric Dunmore has been appointed as Executive Chairperson at Group-level. Eric is an experienced PE-backed CEO who has 15 years of exposure to the payroll sector and 17 years’ experience in professional services. The incumbent management teams will continue to run the divisional businesses day-to-day.
Steve Wycherley, Director of Continuum consulted with Guy Gillon, Founder and Co-Managing Partner of Tenzing and Eric Dunmore, Executive Chairperson at PSSG.
Posted by Laura Hammond on 23 September 2020
Continuum advises on NVM’s investment in Chemigraphic
Continuum has advised NVM Private Equity (NVM) on its £7 million investment into Chemigraphic, the leading provider of Electronic Manufacturing Services (EMS) to the fast-growth medical technology, defence and power systems sectors. Chemigraphic, which has its headquarters in Crawley, builds complex products for a wide range of specialist UK and global technology brands, from conception to production, supporting them at every stage of their product lifecycle. The investment, from NVM’s Vintage III fund, will help to accelerate...
read moreContinuum advises on NVM’s investment in Mo
Continuum were asked to provide the Management Due Diligence when NVM Private Equity considered their investment in Mo. NVM has invested £2.2 million of growth capital into Mo, formerly known as Thanksbox, a London-based recognition, employee reward, and ideas platform. NVM’s investment will be used to accelerate scale up of the business, expand the team and to deliver further technical progression in the platform. Steve Wycherley, Director at Continuum said, “It was great to be able to meet with Luke Fisher and the team at Mo....
read moreContinuum Due Diligence for Tenzing and Ticketer deal
When Tenzing Private Equity backed the management team of Ticketer, the UK’s leading provider of bus ticketing technology, they once again looked to Continuum for our Human Capital Due Diligence service. Since entering the market in 2010, Ticketer has grown to become the UK market leader at the forefront of smart electronic ticketing technology across the bus sector. Ticketer’s software enables passengers to use the latest payments technologies, whilst providing bus operators with real-time performance insights to improve efficiency, service...
read moreContinuum Due Diligence at Flexioffices for NVM Private Equity
Flexioffices, one of the UK’s leading serviced office brokers, has secured £8.2 million of investment from NVM Private Equity as part of the funding package for a management buyout. The investment from NVM will help to accelerate Flexi’s international growth and drive continued development of their technology. Continuum were pleased to meet with Geraint Evans and the team at Flexioffices and provided a comprehensive management due diligence report to Peter Hodson and David Rolfe at NVM and subsequent feedback to Geraint and the team at...
read moreTenzing and Continuum Human Due Diligence update
Continuum continue their productive relationship with Tenzing Private Equity. After providing human due diligence on the Smoothwall investment at the end of last year we were also pleased to be called in to assess and advise on the CitNOW investment in March. CitNOW Video Limited is a specialist provider of video applications that create a more transparent, easier car buying and owning experience for automotive dealership customers. Its applications improve performance of automotive dealerships by allowing staff to send personalised, branded...
read moreBridges Fund Management and Continuum Human Due Diligence
Continuum have continued to work with Bridges Fund Management and have been involved in both management insights in some of their existing portfolio companies and Human Due Diligence for the following investments. Bridges invested £8.5m in health-focused school catering business Innovate. Innovate Catering is a fast-growing school catering business that provides high-quality, nutritious food to over 90,000 children at primary and secondary schools in England. Schools and academy groups are increasingly on the look-out for specialist partners...
read moreContinuum provides NVM with further Human Due Diligence
Since last posting it has been a busy time in our working with NVM Private Equity. Continuum have provided Human Due Diligence for the following growth capital investments. In February, East Kilbride based SHE Software secured a £3 million growth capital investment from NVM with aims to enter international markets with its highly configurable health and safety software and to create over 50 new jobs by the end of 2018. In March, NVM invested £3 million of growth capital into Maidenhead-based branded food business The Primal Pantry. With a...
read moreManagement due diligence by Continuum on Dale Power Solutions management buyout backed by NVM Private Equity
NVM Private Equity (NVM) has backed a management buyout of Dale Power Solutions (Dale), one of the UK’s leading providers of reliable secure power solutions. Continuum were pleased to meet with Denzil Lee and the team at Dale in Scarborough and provided a comprehensive management due diligence report to James Arrowsmith and his team at NVM. Having provided human due diligence earlier in 2017 for the Volo deal and the Knowledgemotion deal it was good to be able to meet with another of NVM’s potential investment partners and give the...
read moreHuman Due Diligence Support for Bridges Fund Management’s Investments
Continuum are pleased to update you on a further two due diligence (HDD) exercises for Bridges Fund Management. Bridges Fund Management, the specialist sustainable and impact investor, has invested £9m to take a majority stake in Just Ask, a facilities management business. In a separate exercise, Shaw healthcare, an employee-owned care provider for the elderly, has agreed to sell a minority stake to Bridges Evergreen Holdings for £10m to accelerate its growth and development. Both deals benefited from a human due diligence analysis from the...
read moreContinuum’s Human Due Diligence for Tenzing Private Equity on Converge investment
Continuum provided the Human Due Diligence support to Tenzing Private Equity in their recent investment in Converge TS. Steve Wycherley, Director at Continuum, said: ‘We were delighted to work again with Tenzing and to meet with Nigel Wright and Andrew Taylor at Converge in Darebury Park. We wish them well with the future.’ About Continuum Continuum is an organisation development firm focusing on helping our clients to liberate human potential, to deliver value and achieve ambitions more rapidly. The main areas of our business are Human...
read more
