Workforce management solutions provider Valiant announced that it has finalized the acquisition of Payroll Computing Services (PCS), a provider of payroll and consulting services to the hospitality and restaurant industry.
PCS, which has been in the industry for the past 25 years, has been a licensee of Valiant for 10 years and services over 1,000 companies throughout the United States.
The strategic acquisition strengthens Valiant's commitment to expand market share on the Valiant platform of web-based Workforce Management Products (WFMP).
“I believe this acquisition will provide Valiant with a significant opportunity to expand its presence and market share in the hospitality vertical,” said Anthony Petraco, chief executive of Valiant, in a statement. “The combination of Valiant's market leading web-based WFMP and PCS' industry recognition, expertise and customer service commitment provides a competitive uniqueness to achieve our stated objective.”
“I am excited to join the Valiant organization,” said Michael Busch, president and chief executive of PCS. “In my role as president of Payroll Operations for Valiant, I look forward to leveraging the PCS payroll expertise in the restaurant marketplace with the existing vertical markets served by Valiant.”
PCS, according to company officials, is dedicated to meeting specialized and complex payroll needs of the restaurant and catering industries. PCS serves a broad spectrum of restaurants and catering facilities such as top chef/owners including Bobby Flay, Tom Colicchio and Jean George Vongerichten, and the restaurant brands including Nobu, Tao, Carmine's, BLT and Bond 45.
The acquisition is important for Valiant which is on an expansion spree. Valiant's payroll processing exceeds $5 billion per year and its facilities and services exceed stringent audit and quality standards, including SAS70 Type II. Valiant solutions enable organizations to reduce operating costs, increase efficiency and streamline operations, according to company officials.
Back in November Valiant announced that it acquired Triton HR’s payroll processing customer base to establish a direct market presence in Florida. The companies also established an Independent Representative Agreement to enable Valiant and Triton HR to deliver a wide range Workforce Management Products (WFMP) and services.