's-Hertogenbosch, May 31, 2023 - BCS HR Software ("BCS"), one of the larger providers of software for HR and payroll, is further expanding its market position by acquiring the HR & Payroll arm of Centric, backed by software investor Main Capital Partners. The strategic acquisition marks another step in expanding BCS' fast-growing position in the HR Software industry in the Benelux. It is BCS' fourth acquisition since Main Capital invested in the company in April 2022. Previously, Apployed, Tasper and MediSoft were added to BCS.
BCS has more than 40 years of experience in the HR & payroll software industry. The company provides solutions in Core HR (including for absenteeism, payroll, flexible benefits, personnel administration and employee welfare) and Payroll software with associated services, among others. Centric HR & Payroll has developed the modern HR cloud solution Motion and also has its own payroll software with additional services.
The acquisition of Centric's HR & Payroll solutions fits within BCS' strategy to further expand a leading product portfolio and further strengthen its market position. The takeover of Centric HR & Payroll solutions is therefore a logical step for BCS; both companies match each other seamlessly in terms of products, services and customers. BCS supplies solutions to both SME and Enterprise customers in the Netherlands as well as municipalities and healthcare institutions, including Vattenfall, VodafoneZiggo, RIBW Nijmegen and Rivierenland, Oger, AkzoNobel and the AMC. The acquisition also further expands the market segments within both profit and non-profit, with various enterprise customers, municipalities and government agencies as clients. BCS has more than 230 employees after the acquisition of Centric's HR & Payroll arm.
The acquisition follows Centric's choice to focus entirely on the markets and sectors where it plays a leading role in assisting organizations in their digital transformation. Due to the change in focus, it was therefore decided to split off HR & Payroll activities in order to establish a firmer foundation for both companies. Peter Wakkie, CEO Centric: "We want to continue focusing on strategic activities and innovations that Centric is leading in. This is where we create opportunities through the unique combination of our sector expertise with industry-specific software, IT solutions and cloud services."
It has been a conscious choice by Centric to transfer its HR & Payroll activities to BCS HR Software. BCS already has 40 years of experience in this sector, ensuring continuity. In addition, BCS is supported by software investor Main Capital Partners, which has broad experience in both the public software market and the HR segment. "We are confident that the customers are in good reliable hands with BCS".
The journey to market leadership
"We are extremely happy that we were able to realize this acquisition," says Joep Eijkens, CEO of BCS. "With the joining of our forces, we are even better able to serve our customers and provide them with innovative and high-quality HR solutions. It is a logical step in our strategic direction. Both the cloud package Motion, the payroll services and the experienced professionals of Centric, are a valuable addition to our current portfolio. We look to the future with enthusiasm and are convinced that this step will enable us to grow further and strengthen our market position, in the journey towards market leadership. With, among other things, our own products around dossier management and flexible working conditions, we expect to be able to add even more value for Centric HR & Payroll customers.
Charly Zwemstra, Managing Partner & Chief Investment Officer at Main Capital concludes: ''The combination between Centric HR & Payroll and BCS is a hugely valuable step in BCS' strategy to strengthen their fast-growing position in the HR & payroll software industry. Together, the companies can offer their customers an enhanced service and software solution. Looking ahead, we see many growth opportunities and will continue to support BCS in this endeavor.''
About BCS
https://bcs-hr.com/
BCS offers SMEs and larger companies a total solution for HR and payroll services. BCS has over forty years of experience in providing software in areas such as payroll, time registration, workflow management and personnel planning. Since 1978 BCS has grown into one of the largest payroll processors in the Netherlands and has more than 230 employees.
Main Capital Partners
https://main.nl/
Main Capital Partners is a leading software investor in the Benelux, DACH, Scandinavia and North America. Main has 20 years of experience in strengthening software companies and works closely with the management teams in its portfolio as a strategic partner to achieve sustainable growth and larger outstanding software groups. Main has 60 employees and offices in The Hague, Stockholm, Düsseldorf, Antwerp and an affiliated office in Boston. Main has more than EUR 2.2 billion in assets under management and currently has an active portfolio of more than 40 software groups. Together, these companies provide about 9,000 jobs.
