Aquiline Capital Partners-Backed PrimePay Announces Acquisition of SyncHR
30 Apr, 2021, 09:00 ET
WEST CHESTER, Pa. and DENVER, April 30, 2021 /PRNewswire/ -- PrimePay, a national payroll, human capital management (HCM), and benefit services company, today announced it is acquiring SyncHR, a leading all-in-one HR, payroll and benefits management software provider purposely-built for mid-sized enterprises. Earlier this month, PrimePay announced a strategic investment from Aquiline Capital Partners, a private investment firm based in New York and London with $6.1 billion in assets under management.
This acquisition combines two industry leaders with full-suite People Management software and service solutions, creating a leading HCM offering for emerging and mid-enterprise firms. As the companies unite, the resulting solutions can be scaled accordingly, providing these organizations with industry-leading insights and efficiencies to drive business operations and growth. As part of the transaction, Pam Glick, currently CEO of SyncHR, will assume her new role as the Chief Marketing Officer and will be primarily focused on go-to-market strategy, product and innovation, and customer success initiatives.
SyncHR's innovative, position-based HCM software empowers leaders across the organization with the data access, transparency, and accuracy they need for more efficient operations and better support for company objectives. SyncHR provides real-time insights into staffing, budgets and plans on one centralized system which enable traditionally support-oriented departments to transition to a more strategic business function that directly influences the long-term success of a company. Through an automated and seamlessly integrated cloud-based software, companies can utilize SyncHR to gain greater visibility into the past, present and future state of their business.
"Pam and the SyncHR team have built an incredible product that is leading the charge in modernizing and revolutionizing HR operations in the constantly evolving HCM landscape," said John LaMancuso, CEO of PrimePay. "This acquisition expands and elevates our capabilities to meet the unique challenges facing mid-enterprise companies. With our offering, we are creating a new category that will empower mid-enterprise organizations with a level of sophistication in their HCM capabilities that rivals that of the largest corporations, and is configurable to their specific needs and opportunities."
"The unity of PrimePay and SyncHR accelerates the innovation we're bringing to market to modernize HCM by positioning it as a strategic business function that directly contributes to our clients' growth," said Ms. Glick. "Aquiline's deep sector expertise and ample financial resources will also play a key role in positioning the combined company to enable its customers to excel in this era that is defined by a demand for agility and data-driven insights."
PrimePay®, founded in 1986, is a payroll service and human capital management (HCM) provider, offering solutions that empower businesses to focus on what matters most. We deliver highly configurable HR and payroll solutions designed to create efficiencies and to maximize compliance for our clients across our nationwide presence. To learn more, visit primepay.com.
SyncHR is a cloud-native Human Capital Management (HCM) software, streamlining HR, benefits, and payroll management for mid-enterprise businesses. SyncHR is a team-oriented application, meaning it is utilized by the entire business, not only HR. SyncHR's software platform is built on a position-based architecture to help businesses plan, operationalize, and measure results better. For more information about SyncHR, visit www.synchr.com
About Aquiline Capital Partners LLC
Aquiline Capital Partners, founded in 2005, is a private investment firm based in New York and London investing in businesses across financial services and technology, business services, and healthcare. The firm had $6.1 billion in assets under management as of December 31, 2020. For more information about Aquiline, its investment professionals, and its portfolio companies, please visit https://www.aquiline.com/.
Prosek Partners for Aquiline Capital Partners
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