Aberdeen-headquartered payroll firm specialist Activpayroll has acquired Malaysia-based Propay Partners.
The firm said the deal, the value of which has not been disclosed, will see its plans for “accelerated growth” in Asia Pacific take a “significant step forward”.
It said it has seen significant year-on-year growth, and growing revenues over the last year by 27%, with the Asia Pacific business proving to be a big part of that success.
Activpayroll chief executive Jason Allen said: “At Activpayroll, we are targeting long-term sustainable growth, building an ambitious approach to acquiring new business while continuing to provide excellent service to our existing customers.
“Acquiring Propay and the associated growth in the Asia Pacific region is key to us achieving this objective.”
Mr Allen added the companies have a long-standing partnership spanning more than 10 years and was “confident that together we will meet our strategic objective of being best-in-class in the Asia Pacific market”.
New appointment to team
As part of the deal Manish Mehta, Propay Partners co-founder and business director joins the team as the new regional director for Asia Pacific.
Mr Mehta said: “We’ve spent the past 21 years building and growing our business and now feels like the right time to integrate with Activpayroll.
“We are confident that they will help support the team on the next stage of its journey.”
Activpayroll provides global payroll, employee mobility, human resources and international payment services to more than 1,200 companies in 154 countries.
Mr Allen, who was appointed chief executive in July last year, added: “The Propay team’s brilliant service delivery to both colleagues and customers are perfectly aligned with Activpayroll’s own values.
“We will build on Propay’s two decades of knowledge in the market, and together, we will meet our ambitious growth objectives.”
Global reach
The business employs more than 300 people globally, of which just over 100 are in Aberdeen.
Its customers range from local charities to global multinationals across a number of sectors, including automotive, aviation, construction, education, energy, food and drink, investment, luxury goods, mining, pharmaceuticals, property, retail, technology, transport and many more.
In January 2020 private equity firm Tenzing has acquired a 45% stake in Activpayroll for an “undisclosed sum”.
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