has been acquired by
TimePlus is a leading provider of payroll and benefits software and services.
Senior Team
TimePlus Payroll
Type
M&A Sell-Side
Description
has been acquired by
TimePlus is a leading provider of payroll and benefits software and services.
About
TimePlus is a leading provider of payroll, tax, and benefits management software and services in the United States and Canada. The Company provides solutions directly to approximately 3,200 small and medium-sized businesses, and its software licensees operate over 160 offices throughout the United States and Canada, servicing over 25,000 businesses.
Situation
The Company's private equity owner selected Croft & Bender to advise the Company through an exclusive sale process, which included valuing the Company, identifying potential acquirers, drafting the offering memorandum and related materials, marketing the Company, selecting a partner, and negotiating the transaction.
Result
Croft & Bender successfully negotiated the sale of the Company to Indiana-based IOI Payroll Services, Inc., a national provider of payroll and employer outsourcing services.