Journey Payroll & HR (TLC Employer Services at the time) Announces Latest Acquisition
Journey excitedly announces their first acquisition of a great local company, Peak Payroll Solutions, based out of Longmont, Colorado.
Kevin Welch, CEO, states,
We are thrilled about working with the great clients of Peak Payroll Solutions. These clients have always been treated with great care at Peak. That standard of service will continue at TLC (Journey), while simultaneously bringing new technology and offerings not previously available through Peak. This partnership also brings us closer to Peak’s parent company, Digital Retirement Solutions (DRS). DRS is an industry leader in 401(k) plan administration. They established Peak with the specific purpose of offering its 401(k) clients an integrated payroll and retirement plan solution. Through the acquisition of Peak Payroll, TLC (Payroll) is now able to offer our payroll clients an exceptional integrated 401(k) option.
Michael Pierce, CEO of DRS, is equally excited about the expanding relationship between Journey and DRS. Pierce explains, “TLC (Journey) and DRS are a perfect fit. Both organizations place quality customer service and best in class technology at the top of our lists of corporate priorities. Peak and TLC (Journey) have been friendly competitors for years. The TLC (Journey) acquisition of Peak was a logical step in the growth of our cooperation that will mutually benefit both organizations and our clients.”
Kevin states that Journey is still in aggressive growth mode. Arguably the largest locally owned and operated payroll company in Colorado, they’re one of the fastest growing payroll companies in the country. This acquisition of Peak Payroll Solutions expands the Journey footprint in Northern and Central Colorado, as well as its presence outside of Colorado and across the nation.
The Future of Journey
As of today, Kevin does not have plans for further acquisitions. However, he is excited about the potential for organic growth and is always open to further acquisition and partnership opportunities. He believes the most important aspect of their growth is the team members within their organization.
Kevin says, “We are confident we have the best service; our industry-leading retention and feedback proves that. In addition, we are confident we offer better technology than our competition and encourage business owners to do an apples to apples comparison to anyone in the industry.”
Ashlee Faulkner, Shareholder and Vice President of Payroll and Business Development, further emphasizes Kevin’s thinking. She explains, “We are continually looking for ways to provide more value to clients and increase our service offerings. We work with the best programmers and because of that we’re able to stay ahead of market trends and provide solutions that even the publicly traded companies don’t yet have.”
Sue Shirley, Shareholder and Vice President of Payroll Tax Operations explains Journey’s focus on current client’s needs. She states, “Our goal is to make sure our clients and their employees always receive the best service, while having their hands on the best new technology and customizable services.”
Journey Payroll & HR has won several awards for their strong organic growth and phenomenal client retention. This is their first acquisition which will put them at an estimated client count of 650 businesses in over 30 states. Plans for 2016 include surpassing 750 clients, while paying over 20,000 employees. New technology and offerings will continue to roll out and they already have another exciting announcement planned for early 2016.
About Digital Retirement Solutions
DRS specializes in providing expert record-keeping and administration services for 401(k) plans of any size. Established in 1998, DRS provides innovative, flexible and cost-effective recordkeeping solutions that are custom designed. Their services provide the long-term best interest of clients and their plan participants. For more information, please visit: www.drs401k.com