The deal is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.
Heartland Payroll, one of the leading payroll and human capital management (HCM) providers in the United States, serves more than 50,000 clients with a range of payroll, HCM software, and business services. As part of the agreement, the business will be rebranded following the close of the transaction.
Upon completion, the acquisition will significantly bolster Acrisure’s existing payroll and HCM capabilities, aligning with the company’s broader goal of becoming a premier fintech solutions provider for small and medium-sized businesses (SMBs) globally.
Vince Lombardo, currently President of North America Merchant Solutions at Global Payments, will join Acrisure as CEO of Heartland Payroll. With over two decades of leadership experience in payroll and financial services, Lombardo will lead the business alongside Heartland’s existing management team.
“This significant acquisition accelerates our successful transformation into a fully scaled and diversified fintech platform,” said Greg Williams, Co-Founder, Chairman, and CEO of Acrisure. “We prioritize the needs of our clients and increasingly, that’s a tech-oriented solution that streamlines their back-office operations in important verticals like payroll, compliance and billing. We’re incredibly excited about partnering with the Heartland Payroll team and look forward to growing this business together.”
Lombardo echoed the sentiment, saying, “Acrisure’s strategic acquisition of Heartland Payroll marks an exciting milestone for our team and will provide our business with sharper focus, accelerated growth, and greater investment. I’m honored to join Acrisure and work alongside Greg and the incredible team he’s built as we continue to build the most comprehensive provider of financial service products for businesses around the world.”
The announcement follows Acrisure’s recent $2.1 billion capital raise led by Bain Capital, which increased the company’s valuation to $32 billion—a nearly 40% jump from its previous funding round just three years ago. The firm now offers a broad suite of services, including insurance, reinsurance, real estate, cybersecurity, and payroll, positioning itself as a key player in the fintech space.
