Acrisure acquires Heartland Payroll from Global Payments for $1.1bn
Deal News | May 30, 2025 | Re-Insurance News
Acrisure, a leading global fintech, has announced the acquisition of Global Payments' payroll division, Heartland Payroll Solutions, in a deal valued at $1.1 billion. Heartland Payroll, a US-based payroll and HCM company, serves over 50,000 clients. The acquisition fits within Acrisure's broader strategy to cement itself as a dominant fintech solution provider for SMEs. Upon completion, Vince Lombardo will be appointed CEO, bringing over 20 years of industry experience. Expanding its payroll and HCM capabilities, the acquisition is set to close in the second half of 2025, subject to regulatory approvals. Complementarily, legal support for the transaction was provided by prominent firms such as Skadden, Arps, and Kirkland & Ellis. Acrisure's recent capital raise of $2.1 billion has propelled its valuation to $32 billion, solidifying its aggressive growth and strategic acquisition plans.
Sectors
- Fintech
- Human Capital Management
Geography
- United States – Heartland Payroll is based in the United States, and Acrisure operates on a global scale, with a significant presence in the U.S. market.
Industry
- Fintech – Acrisure and Heartland Payroll are involved in the financial technology sector, focusing on providing streamlined technological solutions to financial processes such as payroll and HCM services.
- Human Capital Management – Heartland Payroll operates within the HCM sector, providing solutions that encompass payroll, compliance, and billing for businesses.
Financials
- $1.1 billion – The amount Acrisure is paying to acquire Heartland Payroll Solutions from Global Payments.
- $2.1 billion – The amount raised by Acrisure in a recent funding round led by Bain Capital, increasing its valuation.
- $32 billion – The current valuation of Acrisure following the recent funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Acrisure | Acquirer | Company | A global fintech company aiming to provide comprehensive solutions for small and medium-sized enterprises. |
| Global Payments | Vendor | Company | A company providing payments and commerce technology, which owns Heartland Payroll Solutions. |
| Heartland Payroll Solutions | Target Company | Company | A payroll and HCM company in the U.S. providing services to over 50,000 clients. |
| Vince Lombardo | CEO of Heartland Payroll | Person | Will serve as the CEO of Heartland Payroll following the acquisition, bringing extensive leadership experience. |
| Greg Williams | Chairman and CEO of Acrisure | Person | Co-Founder, Chairman, and CEO of Acrisure, leading the company's fintech transformation. |
| Skadden, Arps, Slate, Meagher & Flom LLP | Legal Counsel | Company | Provided legal counsel to Acrisure for the acquisition. |
| Kirkland & Ellis LLP | Legal Counsel | Company | Provided legal counsel to Acrisure for the acquisition. |
| Schulte Roth & Zabel LLP | Regulatory Counsel | Company | Served as regulatory counsel to Acrisure for the acquisition. |
| Goldfinch Partners | Advisor | Company | Advised Acrisure on the transaction. |