As of January 2019, NGA Human Resources has changed its name to Zellis. The new website can be found here: www.zellis.com.
LONDON, October 9, 2017 - NGA Human Resources ("NGA HR”) today announces that it has signed a definitive agreement to sell its local UK Mid-Market and SMB (Moorepay) divisions (“NGA UK”), to Bain Capital Private Equity (“Bain Capital”), a leading global investment firm.
This transaction will allow NGA HR to focus exclusively on the global HR and payroll needs of multinational and large domestic employers, through its enterprise offerings such as global payroll, digital HR, and HR outsourcing services. NGA HR’s payroll and HR services delivery capability in the UK and Ireland will be unaffected by the proposed transaction. NGA UK will also be able to accelerate the pursuit of growth opportunities available to the business through its partnership with Bain Capital.
The proposed transaction is subject to customary closing conditions, including anti-trust and FCA regulatory approvals, and is expected to close in early 2018. The financial terms of the proposed transaction have not been disclosed.
At the same time, NGA HR announces that Adel Al-Saleh, current CEO of NGA HR, has resigned to take up a new appointment. NGA HR’s board of directors agreed to transition the CEO responsibilities to Andy Monshaw, NGA HR’s enterprise president, over the coming weeks. Jonathan Legdon, who has been with NGA HR for 15 years, has been appointed as CEO of NGA UK.
Adel Al-Saleh says: "This completes the transformation of NGA HR to a fully focused global enterprise payroll and HR services provider. It has been a privilege working with NGA HR colleagues and clients over the last six years. The business today has a clear strategy and strong fundamentals to build on. I want to thank everyone for their support and wish NGA HR all the best in the future.”
Andy Monshaw, incoming CEO of NGA HR, says: “We are now even better positioned to further our leadership in this market and accelerate our investments in innovative new technologies. Our latest innovations include artificial intelligence, automation, analytics, and HR-as-a-service platforms such as cleaHRsky, and will help our clients move to the next-generation HR and payroll operating model. We remain deeply committed to the needs of large domestic and multinational employers to deliver the highest standards in terms of client satisfaction, technology innovation, and HR and payroll service delivery quality.”
James Reynolds, Non-Executive Chairman of NGA HR, says: “This represents another important milestone in the transformation of NGA HR. Following on from the sale of the Australia and New Zealand Mid-Market division earlier this year, the proposed sale of the UK Mid-Market and SMB divisions will allow NGA HR to focus exclusively on the needs of its global enterprise clients. We believe that there is an exciting future ahead for the employees and customers of NGA HR and NGA UK. The Board would very much like to thank Adel Al-Saleh for his leadership of Northgate Information Solutions and NGA HR over the last six years and the huge contribution that he has made to the success of the organisation under his stewardship.”
Christophe Jacobs van Merlen, a Managing Director of Bain Capital, says: “We are excited about this opportunity to buy NGA UK, a market leading software business, with strong core fundamentals and significant opportunities to drive further growth. We have a long track record, in the UK and across the world, of investing and supporting businesses that have not been at the core of their parent companies, to help transform them so that they can reach their full potential. We look forward to partnering with the management team to help them focus on various growth opportunities, including acquisitions.”
Jonathan Legdon, CEO of NGA UK, says: “I am delighted that Bain Capital are backing our next phase of growth as an independent company and believe that their financial and operational resources will help us to meet our customers’ needs. Bain Capital has a long history of accelerating the growth of software and services companies that they invest in and has shown an innate understanding of our business and markets.”
Goldman Sachs International acted as exclusive financial adviser to NGA HR. Kirkland & Ellis LLP acted as legal adviser to NGA HR. Evercore acted as exclusive financial adviser to Bain Capital. Ropes & Gray acted as legal adviser to Bain Capital.
About NGA Human Resources (NGA HR)
NGA HR is a leading provider of global payroll and HR solutions with capabilities in 188 countries. NGA HR's mission is to make HR work better. We help employers worldwide pioneer digital HR, master global payroll, ensure compliance, unlock workforce data, and deliver best-in-class HR operations. As a result, HR leaders can create better employee experiences, save money, and transform their organisations.
About NGA UK
With over 8,500 clients, delivering services to more than 5 million employees across all market sectors, NGA UK (incorporating MoorePayHR) is the number one provider of payroll and HR software and services in the United Kingdom and Ireland.
The company's ResourceLink technology is a powerful, fully integrated end to end solution incorporating Recruitment, HR, Payroll and WFM, providing a truly compelling and insightful employee engagement experience whilst helping employers deal with the rapidly changing workplace through streamlining functions, leveraging AI and predictive analytics. NGA UK won the prestigious CIPP awards for Payroll Software Provider of the Year and Best Payroll Services Provider of the Year in both 2016 and 2017.
About Bain Capital Private Equity
Bain Capital Private Equity has partnered closely with management teams to provide the strategic resources that build great companies and help them thrive since its founding in 1984. Bain Capital Private Equity’s global team of approximately 220 investment professionals creates value for its portfolio companies through its global platform and depth of expertise in key vertical industries including healthcare, consumer/retail, financial and business services, industrials, and technology, media and telecommunications. Bain Capital Private Equity has offices in Boston, New York, London, Munich, Mumbai, Hong Kong, Shanghai, Sydney and Tokyo and has made investments in more than 300 companies to date. In addition to private equity, Bain Capital invests across asset classes including credit, public equity and venture capital, managing approximately USD 75 billion in total and leveraging the firm’s shared platform to capture opportunities in strategic areas of focus.