02 Oct Dallas-based top provider of employee services continues expansion with new acquisition
BenefitMall, the leading provider of employee benefits and payroll services, announced its acquisition of Planet Payroll, a payroll service bureau located in Phoenix with a client base in Arizona, New Mexico, and Texas.
Headquartered in Dallas, BenefitMall partners with a network of 20,000 Brokers and CPAs to deliver employee benefits and payroll services to more than 200,000 small and medium-sized businesses. By combining payroll and benefits, BenefitMall empowers “Trusted Advisors” to develop comprehensive employee programs while maintaining compliance with government regulations and healthcare reform.
“We are very pleased to welcome Planet Payroll to BenefitMall with our most recent acquisition,” said Todd Waletzki, president of the Payroll Division for BenefitMall. “Our office in Arizona is thrilled to bring on new clients and will ensure the transition is seamless for all parties involved.”
Planet Payroll employees will join BenefitMall once the deal is complete. Existing Planet Payroll clients and employees will work directly with BenefitMall’s Phoenix office.
“BenefitMall is one of the top payroll providers in the country, and we are thrilled to have finalized this deal with them,” said Cassie Johnson, general manager at Planet Payroll. “We know that our clients will benefit from this acquisition as they will now have more services offered to them with the same focus on customer service.”
Last fall, BenefitMall was acquired by The Carlyle Group, a global alternative asset manager with $210 billion of assets under management across 335 investment vehicles. The continuous growth through mergers and acquisitions, like Planet Payroll, were the reason for the investment.
Financial terms of the deal were not disclosed.