Paychex pushes into more of the European market with latest acquisition

Mar 1, 2018

Paychex is expanding its push into European markets with the announcement Thursday that it has acquired Lessor Group, a payroll and human capital management company that is based in Denmark.

Lessor now does work for small, medium and enterprise-sized companies in Denmark, Germany, Norway and Sweden.

Paychex CEO Marty Mucci says that his company’s international strategy has been to grow in Europe, beyond its current operation in Germany.

Mucci said that, “Paychex will continue to look at expanding market penetration in four countries Lessor is in now as well as other European countries over the next 18 to 24 months.”

Lessor has approximately 140 employees and all Lessor employees will continue their jobs with the Lessor Group, as part of the Paychex organization.

Founded in 1972, Lessor previously was owned by Axcel, a Nordic private equity company.