SD Worx strengthens its position in Europe through the acquisition of F2A, an Italian provider of HR and payroll solutions.

SD Worx, a European provider of HR and payroll solutions, has entered into an agreement with Ardian to acquire F2A, an Italian provider of HR and payroll solutions. With this acquisition, SD Worx aims to further expand its geographic reach and offering in Europe. The transaction is still awaiting regulatory approval.

Expansion and growth

More than 1,200 F2A experts serve 6,000 customers in two business areas: HR & Payroll (85% of turnover) and Finance & Accounting (15% of turnover). Since its acquisition by Ardian in 2016, F2A has significantly expanded its service offering and built a strong position in the Italian market through more than 20 strategic acquisitions.

Marco Molteni, Managing Director at Ardian, highlights the growth that F2A has experienced and the strategic value that the company represents for SD Worx. Kobe Verdonck, CEO of SD Worx, sees Italy as a large market with great potential for payroll outsourcing, partly due to the complex payroll landscape that requires local expertise.

Raul Mattaboni, CEO of F2A, sees the acquisition as recognition for the hard work of his team and sees joining SD Worx as an opportunity to continue to grow and serve customers even better. Following regulatory approval, SD Worx will acquire 100 percent of F2A’s shares.