SD Worx acquires German company fidelis HR
14 March 2016
Antwerp, 14 March 2016 – Belgian HR service provider SD Worx acquires German company fidelis HR. An agreement was signed on Friday. Fidelis HR employs 629 people and saw a turnover in 2015 of 55 million euros. With the acquisition, SD Worx becomes the second-biggest payroll provider in Germany and also strengthens its position of second on the European market.
Fidelis HR was taken over in 2013 by the listed company Aurelius and was previously known as TDS HR Services & Solutions. The company provides a total HR service and calculates almost one million salaries every month for six thousand clients in the public and private sectors. Besides payroll administration, also in outsourcing, the company is specialised in, among other things, personnel administration, benefit management and HR software.
The employees of both companies have considerable experience and knowledge and the range of services will be continued. In this way, the customers can continue to rely on a high-quality service provision and continuity is assured.
“This takeover entirely fits within our strategy to continue our international growth and so to strengthen our position in the market. SD Worx Germany will gain several big national and international companies as clients and will increase its share in the public sector considerably: 45% of the sales of fidelis HR are obtained through services to the government. The two companies are therefore strongly complementary. In addition, they have a similar corporate culture, a similar range of services and a good geographical spread in Germany”, says Steven Van Hoorebeke, CEO of the SD Worx Group.
“Germany is one of the biggest and most important markets in Europe for HR service provision, and still has a lot of growth potential to offer. The new entity is an ideal basis for exploiting this potential jointly in the future”, says Jörg John, manager at fidelis HR.
More information ?
Jan Van Mol, Head of International Marketing SD Worx
M +32 498 94 69 79
About SD Worx
SD Worx delivers a full range of quality services in the areas of Payroll, HR and Tax & Legal in Europe, the Americas and Canada, with more than 2,700 staff serving more than 60,000 clients, offering salary calculations, training, HR research, social-legal, tax and HR-related consultancy services, specialist software for personnel departments and on-site support.
SD Worx calculates about 2,35 million salaries each month, whilst running its own offices in Belgium, France, Germany, Luxembourg and The Netherlands. SD Worx is a co-founder of the Payroll Services Alliance whose members jointly handle 31 million salary calculations.