Teakwood Capital said Tuesday it invested in iiPay. Financial term weren’t announced. U.K.-based iiPay provides is a cloud-based payroll services company.
DALLAS, TEXAS (PRWEB) MARCH 01, 2016
Teakwood Capital, a Dallas, Texas private equity firm, today announced it has made a growth capital investment in iiPay, a leading cloud-based payroll services company delivering global technology solutions to multi-national businesses.
The investment will further enhance operational infrastructure related to iiPay’s global payroll technology platform that serves more than 250 clients and payrolls in over 120 countries and delivers instant access to all payroll data, global reporting and E-pay slips from a single, central system. In addition to providing valuable information to payroll administrators, clients benefit from operational efficiencies, cost savings and an improved employee experience.
“The valuable support iiPay provides clients in managing their global needs, along with its successful track record of delivering market-leading technology and service, made this a desirable investment opportunity,” said Shawn Kelly, Managing Director at Teakwood Capital. “Our firm’s operational and strategic expertise, combined with that of iiPay’s leadership, will further enhance the company’s reach and depth of value provided to clients.”
iiPay provides an integrated suite of domestic and international software solutions – including Global Managed Services, Global E-Payslip Service, Global Reporting Service and Payroll Consulting Services – that enable organizations to optimize their payroll and maximize return on investment.
“Teakwood’s investment will support further expansion of iiPay’s technology and services, enhancing the value provided to current and future customers,” said Bob Foster, CEO at iiPay. “Our team is excited to work alongside the seasoned group at Teakwood and advancing iiPay to new levels of growth and profitability.”
Last week, Teakwood announced the addition of Ed H. Bowman as Executive Partner. In this role, Bowman will serve as a strategic advisor to iiPay leadership to support growth and drive success.
About Teakwood Capital
Teakwood Capital is a Dallas, Texas private equity firm that invests in profitable technology-focused companies with revenues below $25 million that are interested in accelerating growth with expansion capital and top-tier talent. The firm typically focuses on companies in Texas and neighboring states, and has deep, hands-on operating experience complemented by an Executive Partner team of successful ex-CXOs working closely with portfolio company management teams to create value through organic revenue growth, operational improvements, and sustainable intellectual property. For more information, visit teakwoodcapital.com.
iiPay is a leading cloud-based payroll company delivering global technology solutions to domestic and multi-national businesses. For more information, visit iipay.com.