When was PEO WORLDWIDE acquired by Horizon Capital?

PEO WORLDWIDE was acquired by Horizon Capital in 2020.

How is the data for the PEO WORLDWIDE acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the PEO WORLDWIDE deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://horizoncapital.co.uk/horizon-capital-commits-22m-to-buy-and-build-in-the-employment-compliance-market-with-simultaneous-acquisitions-of-topsource-and-peo-worldwide/

What is the average EV/EBITDA multiple for the Business Services sector in 2026?

The average EV/EBITDA multiple for the Business Services sector in 2026 is 11.4x.

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Home Database Business ServicesPEO WORLDWIDE

12/2020

Horizon Capital takes majority stake in PEO WORLDWIDE

UNITED KINGDOM Facility Management / BPO & Outsourcing REV 1m GBP - 100m GBP

Context

Horizon Capital acquired a majority stake in PEO Worldwide, the Birmingham-based employer of record and HR services provider, in December 2020, while acquiring TopSource at the same time to combine the two businesses into a new employment compliance group. Co-founder Paul Sleath reinvested alongside Horizon and became global head of employer of record in the combined group, led by TopSource co-founder Guil Hastings as chief executive, with Martin Smith as chairman and Nick Wain as chief financial officer. At the time of the deal, the combined group served more than 900 clients across Europe and Asia-Pacific. Horizon ringfenced follow-on capital for further acquisitions, with several targets already under review, and planned to invest in sales, geographic expansion and software.

-> Deep-dive in Business Services market trends

Target

Founded in Birmingham in 2013, PEO Worldwide provides employer of record services, allowing organisations to hire and pay staff in countries where they have no local legal entity. It takes on the formal employment of these staff and runs their payroll, employment compliance and HR administration on behalf of the client company. Its customers are international employers with teams in Europe and Asia-Pacific.

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Multiples

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Historical Financials (GBP)

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2020

2019

Similar deals in Facility Management

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REFERENCES

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of PEO WORLDWIDE by Horizon Capital are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: horizon capital