Moorepay plans to invest more than £100 million (US$128 million) over 10 years in a new hub in Salford as part of efforts to reinvent itself following its acquisition by Bain Capital in January this year.
Parent company NGA Human Resources sold the HR and payroll services company, along with its NGA UK & Ireland business, both of which operate in the mid-market and small to medium enterprise space, in a bid to focus on multinational and large UK employers.
Moorepay’s investment will include £5 million (US$6 million) in new custom-built offices in Lowry Mill, facilities management activity and utility bills. But over the next decade, it also intends to spend £90 million (US$115 million) on people costs, plus the training and development of 180 employees, and a £1.2 million (US$1.5 million) initial investment in an apprenticeship scheme, followed by a further £4.5 million (US$5.7 million) over the next nine years.
Chief executive Alistair Blaxhill said: “We strongly believe in regional investment. This includes our office, graduate and apprenticeship scheme, and our commitment to regional suppliers and local customers – all of which is aligned with Her Majesty’s Government Northern Powerhouse strategy.”
The move “marks the beginning of an exciting new phase of growth for us as a company”, he added.
The vendor became an official member of the Northern Powerhouse Partner programme, which currently includes nearly 200 companies, earlier this month. The aim is to boost Northern England’s economic potential and support growth in the region in order to rebalance the national economy.
Cath Everett is GPA.Live's content editor.
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Moorepay plans to invest more than £100 million (US$128 million) over 10 years in a new hub in Salford as part of efforts to reinvent itself following its acquisition by Bain Capital in January this year.
Parent company NGA Human Resources sold the HR and payroll services company, along with its NGA UK & Ireland business, both of which operate in the mid-market and small to medium enterprise space, in a bid to focus on multinational and large UK employers.
Moorepay’s investment will include £5 million (US$6 million) in new custom-built offices in Lowry Mill, facilities management activity and utility bills. But over the next decade, it also intends to spend £90 million (US$115 million) on people costs, plus the training and development of 180 employees, and a £1.2 million (US$1.5 million) initial investment in an apprenticeship scheme, followed by a further £4.5 million (US$5.7 million) over the next nine years.
Chief executive Alistair Blaxhill said: “We strongly believe in regional investment. This includes our office, graduate and apprenticeship scheme, and our commitment to regional suppliers and local customers – all of which is aligned with Her Majesty’s Government Northern Powerhouse strategy.”
The move “marks the beginning of an exciting new phase of growth for us as a company”, he added.
The vendor became an official member of the Northern Powerhouse Partner programme, which currently includes nearly 200 companies, earlier this month. The aim is to boost Northern England’s economic potential and support growth in the region in order to rebalance the national economy.
Cath Everett is GPA.Live's content editor.
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