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Vensure Employer Solutions Announces Acquisition of Contrate BPO and Payroll Services, Expands Presence in the South American Market and Marks 73rd Acquisition

Tuesday, 04 June 2024 11:15 AM

Vensure Employer Solutions

CHANDLER, AZ / ACCESSWIRE / June 4, 2024 / Vensure Employer Solutions (Vensure), a leading provider of HR/HCM technology, managed services, and global business process outsourcing, today announced the acquisition of Medellin, Colombia-based Contrate, the company's 73rd acquisition in six years.

Founded in 2006, Contrate has grown into one of Colombia's major providers of business process outsourcing (BPO), payroll, and talent recruitment services. The company's clients include mining and development companies, construction firms, and retail sales and services.

"Contrate is our first payroll processor in Colombia, which expands our global payroll initiative to 19 countries and counting," stated Alex Campos, CEO of Vensure Employer Solutions. "With this transaction, we continue to advance our capacity for strategically delivering in-country payroll processing services within the United States and beyond," he said.

"With clients' increasing focus on efficiency in a changing, competitive environment, we aim to provide solutions to help them succeed," added Carlos Alberto Bustamante Henao, Managing Member of the new entity. "Vensure will give us the scale and advanced technologies to accomplish that mission."

The acquisition of Contrate grows Vensure's presence in Medellin, home to its nearshore talent and core BPO business unit, Solvo. Through this new alignment, Contrate will immediately double its managed payroll services by assuming Solvo's payroll processing.

Grupo Contrate is made up of four companies (Contrate SA, Work and Talent S.A.S, BPO Contrate Global S.A.S, and Credi Job S.A.S). They specialize in providing agile and timely solutions to clients' needs in the areas of employee recruitment and administration, as well as employer compliance with applicable regulations and fiduciary responsibilities.

About Vensure Employer Solutions
Vensure Employer Solutions is the largest privately held organization in the HR technology and service sector, providing a comprehensive portfolio of solutions, including HR/HCM technology, managed services, and global business process outsourcing (BPO). The company and its service providers collectively serve over 141,000 businesses and process over $158B in annual payroll. As a "One Employer Solution" headquartered in Chandler, Arizona, Vensure helps thousands of businesses streamline and grow their operations with custom strategies that benefit both employers and employees. Find out more by visiting vensure.com.

About Grupo Contrate
Grupo Contrate, based in Medellin, Colombia, contributes to the competitiveness and sustainable development of its clients through the provision of qualified and motivated personnel, ensuring reliable processes and continuous improvement to address all the legal and contractual requirements of positive employment relationships. Learn more at contrate.com.co.

Media Contact:
Sonya Trezevant
Chief Marketing Officer
[email protected]

SOURCE: Vensure Employer Solutions

Topic:
Mergers and Acquisitions
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