TopSource Worldwide, the employer services, payroll and Employer of Record service provider, has today announced the strategic acquisition of Blueback Global.
This is the seventh acquisition since TopSource Worldwide received investment from Horizon Capital in late 2020 and will see Blueback Global and its founder Arden Ng join TopSource and continue to provide employer of record, entity set-up, entity management, multi-country payroll and global HR solutions for its customers across 50 global markets.
The acquisition provides a transformational opportunity for the enlarged combined business to take the lead in services to clients seeking to expand to markets around the world. The combination of TopSource and Blueback Global will create a business with 1,600 clients being served across 90+ markets around the globe.
Guil Hastings, CEO of TopSource explains:
The additional scale, services and talent that this combination brings to our clients moves us nearer to our goal of being a leading global employer solutions business. The addition of entity services plus our combined geographic coverage and talent transforms the offerings available to our collective clients.
He added, “By adding service delivery locations in the US, Nicaragua, Singapore, Hong Kong and South Korea to our existing UK, Malta and India service locations, our clients will benefit from expanded access to services, markets and capabilities.”
Arden Ng, Founder of Blueback Global, will join TopSource as part of this transaction, said:
Our core focus is always our clients, partnering with them to hire, set up, and operate anywhere, globally. TopSource Worldwide bring the scale of their compliance team, HR support and geographic coverage to further enhance the value and potential we can provide to our current and future clients. Our combined technology platform will elevate our clients’ experience while providing a more robust compliance underpinning to our service. Our whole team is excited by the possibilities that will come with this combination.
Tom Maizels, Partner at Horizon Capital said:
This acquisition is a significant step towards our vision of building one of the leading businesses in the global expansion marketplace. Blueback is a high-quality business and we are excited by the geographical coverage and additional capabilities it brings to TopSource.
Guil Hastings concluded:
I am excited to work with Arden and his team, to learn from them, and to accelerate our growth. I am confident that our combined clients will gain substantially from the opportunity of working with such a great global team.
About TopSource Worldwide
TopSource Worldwide provides a complete suite of employer services that allows clients to employ and pay people promptly, consistently and compliantly, locally and internationally as it suits their business needs.
TopSource Worldwide is backed by Horizon Capital and has an international footprint and the far-reaching expertise needed to truly support clients with their local payroll, global Employer of Record or global payroll needs.
Payroll anywhere. Employ everywhere.
For more information, please visit – www.topsourceworldwide.com
About Horizon Capital
Horizon Capital is a private equity investor specialising in technology and business services. The firm was established by senior investment professionals who identified a significant market opportunity to invest in businesses in these sectors valued up to £50m.
The partnership prides itself on its approach to helping business owners and managers realise their ambitions. Buy and build is at the heart of every Horizon Capital investment and the firm is a market leader in supporting companies pursuing this strategy.
Horizon Capital has a proven track record in generating premium returns on investments. The unprecedented growth it delivers in its portfolio companies has been underpinned by deep and long-term investor relationships that span across two decades.
For more information, please visit – www.horizoncapital.co.uk