M&A Deal Summary

ADP Acquires Celergo

On August 1, 2018, ADP acquired business services company Celergo from Frontier Growth

Acquisition Highlights
  • This is ADP’s 9th transaction in the Business Services sector.
  • This is ADP’s 17th transaction in the United States.
  • This is ADP’s 1st transaction in Illinois.

M&A Deal Summary

Date 2018-08-01
Target Celergo
Sector Business Services
Buyer(s) ADP
Sellers(s) Frontier Growth
Deal Type Add-on Acquisition

Target

Celergo

Chicago, Illinois, United States
Celergo LLC is a provider of multi-country payroll in 150 countries and combines a proprietary cloud-based technology platform with a local provider network to enable timely, accurate and compliant payroll. Celergo was founded in 2003 and is based in Chicago, Illinois.

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Buyer(S) 1

Buyer

ADP

Roseland, New Jersey, United States

Category Company
Founded 1949
Sector Business Services
Employees64,000
Revenue 18.2B USD (2024)
DESCRIPTION
ADP office in St. Louis, Missouri.
ADP office in St. Louis, Missouri.

ADP is a provider of business outsourcing solutions. ADP offers a wide range of human resource (HR), payroll, tax and benefits administration solutions from a single source. ADP is also a provider of integrated computing solutions to auto, truck, motorcycle, marine, recreational vehicle, and heavy equipment retailers and manufacturers throughout the world. ADP was incorporated in 1949 and is based in Roseland, New Jersey.


DEAL STATS #
Overall 23 of 26
Sector: Business Services M&A 9 of 9
Type: Add-on Acquisition M&A Deals 20 of 23
State: Illinois M&A 1 of 1
Country: United States M&A 17 of 20
Year: 2018 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-01-22 WorkMarket

New York, New York, United States

WorkMarket, Inc. is a provider of work automation software as it continues to expand its portfolio of enterprise and technology service customers. WorkMarket helps companies manage their integrated workforce in a simple, secure and compliant manner. WorkMarket's innovative solutions include tools to source and vet independent workers, manage their engagements, and pay and evaluate these workers. WorkMarket was founded in 2010 and is based in New York, New York.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-03 Sora

San Francisco, California, United States

Sora is a low-code intelligent workflow automation and data integration tool that unifies disparate business applications such as HR, IT, and other systems and data sets to create a smarter, easier-to-use experience for employees, business owners, and HR professionals. Sora is based in San Francisco, California.

Buy -

Seller(S) 1

SELLER

Frontier Growth

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1999
PE ASSETS 1.0B USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

Frontier Capital LLC is a private investment firm that provides expansion capital to high-growth 'technology-enabled' business service companies generating revenues $8-$30 million. Frontier targets companies that utilize technology, an innovative business process, or a unique expertise to deliver a differentiated service to customers. Frontier typically invests throughout the Southeast and Mid-Atlantic regions of the US and looks to commit $10 to $50 million of equity capital per transaction. Investment proceeds are generally used for growth initiatives, acquisitions, or to provide shareholder liquidity. Frontier Capital was formed in 1999 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 28 of 41
Sector: Business Services M&A 6 of 7
Type: Add-on Acquisition M&A Deals 15 of 26
State: Illinois M&A 1 of 2
Country: United States M&A 28 of 38
Year: 2018 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-06-06 MediaPRO

Bothell, Washington, United States

MediaPRO is a SaaS-based provider of security, privacy, and compliance awareness training solutions. MediaPRO’s platform enables organizations of all sizes to analyze, a plane, train, and reinforce education for their employees on critical security, privacy, and compliance issues. MediaPRO was founded in 1993 and is based in Bothell, Washington.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-28 Zephyr

Newark, California, United States

D Software, Inc. is a provider of software test management solutions. Zephyr provides more than 8,500 customers in over 100 countries with innovative applications, seamless integrations and unparalleled, real-time visibility into the quality and status of their software development projects. D Software, Inc. was founded in 2007 and is based in Newark, California.

Sell -