TMF Group acquires OnPayroll.ca Corp.

TMF Group acquires OnPayroll.ca Corp.

Significant step in expansion of Canadian operations

 

Vancouver, Canada, […July 2017] - TMF Group, a leading provider of high value business services to clients operating and investing globally, is pleased to announce the acquisition of OnPayroll.ca Corp. (“OnPayroll”), one of Canada’s leading providers of HR and Payroll services.

Founded in 1989 by Bill Smyth, OnPayroll specializes in providing outsourced payroll and human resources services to international companies with employees working in Canada. Clients are generally small to mid-sized businesses with up to 1,000 employees. 95% of the company’s approximately 100 customers are internationally-headquartered companies with Canadian operations.

Headquartered in Vancouver, OnPayroll has become one of the major market leaders by providing innovative software solutions, incorporating best practices and emerging technologies into a complete suite of outsourced solutions. OnPayroll recognized the importance of technology in payroll management from an early stage and continues to be committed to providing the best technology solutions to clients.

The acquisition of OnPayroll expands TMF Group’s coverage to the West Coast of North America, which offers an important link to TMF Group’s Asia Pacific business. This builds scope and scale for payroll services in Canada, incorporating a team of skilled payroll employees with experience of the local and US market.

TMF Group funded the acquisition from existing cash resources. The financial terms of the transaction have not been disclosed.

Gary Hokkanen, Managing Director Canada at TMF Group, commented:

This acquisition marks an important stage in the development of our business. Combining our specialist skills, local knowledge and high quality client base gives us the ability to develop a powerful proposition for the Canadian market. We are thrilled to have met a business partner that shares our vision of what can be accomplished in Canada.”

Jason Gerlis, Regional Director North America at TMF Group, commented:

“Canada is a key growth area for our business.  This transaction gives us a larger established local presence, supported by a high quality team with excellent blue chip client relationships and a foundation from which to expand our operations in the wider region.  I am delighted to welcome the OnPayroll team to TMF Group and look forward to working with them.”  

For further information, please contact:

Vivian Blom

Tel: +13053771200

contact@tmf-group.com

 

About TMF Group:

TMF Group is a leading global provider of high value business services to clients operating and investing globally. It focuses on providing highly specialised and business-critical financial, legal and human resource administrative services that enable clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. TMF Group has operations in more than 80 countries across the Americas, Asia Pacific, Europe and the Middle East.

www.tmf-group.com

 

About OnPayroll:

Founded in 1989 by Bill Smyth, OnPayroll specializes in providing outsourced payroll and human resources services to international companies with employees working in Canada. Clients are generally small to mid-sized businesses with up to 1,000 employees. 95% of the company’s approximately 100 customers are internationally-headquartered companies with Canadian operations.

www.onpayroll.ca