Frontier Capital Completes Sale of Celergo to ADP
Teamwork was at the heart of our most recent successful exit - the sale of portfolio company Celergo to global Human Capital Management solutions provider ADP.
Celergo’s solution offers multi-country payroll in 150 countries and combines a proprietary cloud-based technology platform with a local provider network to enable timely, accurate, and compliant payroll. The $3 billion multi-country payroll outsourcing market is growing rapidly amid complex cross-border compliance rules and an expanding global workforce.
“The trusting relationship we built with our partners at Frontier and the support they offered – both financially and strategically – were key to Celergo becoming the industry pacesetter.” – Michele Honomichl, Celergo Founder
We have been proud to support Founder and Executive Chairman Michele Honomichl and Chief Executive Officer Tim Callahan in their successful effort to build a leading multi-country payroll solutions platform. At all levels of the organization, Celergo worked together with determination and hard work to build a company we are proud of - a leader among global payroll solutions platforms.
Celergo’s leadership and their team have been a pleasure to work with throughout our investment and we believe the Celergo platform will be a huge asset for ADP going forward.