Global fintech Acrisure has entered into a definitive agreement to acquire Heartland Payroll Solutions, Global Payments’ payroll business, for $1.1 billion.
Heartland Payroll is a payroll and human capital management (HCM) company in the United States. Upon completion of the transaction, it will be rebranded. The company currently provides payroll solutions, HCM software, and other business services to over 50,000 clients.
This acquisition aims to significantly expand Acrisure’s current payroll and HCM capabilities, which aligns with the firm’s strategy to be a preeminent fintech solutions provider for small and medium-sized businesses domestically and abroad.
As per details of the acquisition, Vince Lombardo will join Acrisure and serve as the Chief Executive Officer (CEO) of Heartland Payroll, leading its existing management team. He brings over two decades of leadership experience in payroll and financial services. Most recently, he was the President of North America Merchant Solutions at Global Payments.
The acquisition is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
Greg Williams, Co-Founder, Chairman and CEO, Acrisure, commented, “This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform.
“We prioritise the needs of our clients and increasingly, that’s a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing. We’re incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together.”
Lombardo added, “Acrisure’s strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth and greater investment. I’m honoured to join Acrisure and work alongside Greg and the incredible team he’s built as we continue to build the most comprehensive provider of financial service products for businesses around the world.”
Recently, Acrisure raised $2.1 billion in a funding round led by Bain Capital, making the company’s valuation rise to $32 billion, a nearly 40% increase from its previous funding round only three years ago.
Skadden, Arps, Slate, Meagher & Flom LLP and Kirkland & Ellis LLP served as legal counsel. Meanwhile, Schulte Roth & Zabel LLP served as regulatory counsel, each on behalf of Acrisure. Goldfinch Partners served as an advisor to Acrisure on the transaction.
