1st March 2004
HUMAN CAPITAL SUPPORT SERVICES LIMITED ACQUIRES PLATFORM FOR SUCCESS
Specialist outsourcing company, Human Capital Support Services Limited (HCSS) has today announced the acquisition of Company Management Limited (CML). The subsidiary company, based in Mayfair, is a well-known player in the outsourced payroll bureau market.
This is the first of a number of acquisitions planned by Human Capital Support Services Limited whose Chief Executive, Nicholas Parker, comments: "I am delighted to announce our acquisition of CML. This creates a dynamic strategic business platform that recognises the significant time and cost advantage that outsourced systems offer Small and Medium Enterprises. In CML, we have a premier service provider that is well positioned to thrive as a member of the Group. It will be a cornerstone company as we grow in the outsourced management services marketplace."
He continues, "The opportunity for SMEs to divest themselves of the responsibility for payroll and HR functions within non-core activities is compelling. It is our intention to make Human Capital Support Services Limited one of the leading players in the outsourced management services industry within the next five years. CML is the first step to achieving that aim and we have already identified the next two acquisitions. We predict that our marketplace will look very different in five years time with a significant consolidation within the industry. This we will lead for the benefit of the companies involved and their valued clients."
Chris Palmer, director of CML, adds: "We are very excited about joining the HCSS group. The culture of our new parent company closely fits our values and there is a high degree of alignment around our services and industry knowledge. We look forward to bringing increased depth and expertise to our clients' requirements and we will all benefit from a broad range of new opportunities.
"This acquisition represents excellent news for our clients. We look forward to working closely with our new parent company, HCSS, in order to provide our clients with even greater strength and depth of services and support."
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